Tories not credible on tackling personal debt - Cable

Responding to the Conservatives' plans to tackle personal debt, Liberal Democrat Shadow Chancellor, Vince Cable MP said:

"For the Conservatives to come to the table and argue that personal debt is a matter of social responsibility is utterly two-faced.

"It was under the Tories with David Cameron in the Treasury that personal bankruptcies and home repossessions hit their highest levels.

"It was under the Tories that the fall in the housing market led to negative equity across vast swathes of Britain.

"For too long the Tories have been quiet on solutions to this major problem affecting households. It is simply not credible for them to pipe up now. This is nothing more than spin from a Shadow Chancellor who has no grasp of issues affecting British families.

"The Liberal Democrats have been warning about this issue for some time now, and for the Conservatives to jump on the bandwagon now is feeble."