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Tom Brake Highlights Plight of Hardworking Families

July 13, 2007 12:11 PM

Tom Brake MP took the Treasury Minister, Angela Eagle MP, to task on the issue of bankruptcies and home repossessions in Treasury Questions on Thursday.

He told the Junior Treasury Minister that "families were facing a three pronged attack from rising interest rates, unemployment, and high levels of debt".

Tom Brake added, "This will inevitably lead to an increase in personal bankruptcies and home repossessions, which will in turn create a severe knock-on effect to the economy.

In his question, Tom Brake also asked the Minister if she agreed that there needed to be; better access to free financial advice; "Health" warnings on credit promotions; and greater flexibility in the social fund at times of economic downturn.

These three ideas were drawn from the Liberal Democrat Action Plan on Personal Debt, which they have been asking the government to address.

The Minister in her reply failed to address any of the points raised by Mr Brake.

After Treasury Questions, Tom said, "Frankly I was rather concerned by the Minister's answer which did not really provide any assurances that my grave concerns are being taken seriously by this government."

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