Tories warn of consumers' debt mountain
15/02/2010The number of people suffering serious debt problems in the UK could be larger than thought, according to a new study.
Before the third quarter of 1997, 400,000 personal insolvencies were recorded in England and Wales.
However, new Conservative party research suggests that under a Labour government, around 800,000 people have been declared insolvent.
These figures come as reports from the IMF warn that the level of personal debt in the UK could hold back the chances of an economic recovery.
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