30th July, 2010

Action needed to help avoid personal debt crisis, says Telford Conservative Spokesman


Thursday February 22, 2007

Tom Biggins, Conservative Parliamentary Spokesman for Telford, has added his support to a new series of policies to tackle the soaring levels of debt and financial exclusion. Consumer debt has now hit a massive £1.2 trillion, while bankruptcies and insolvencies are soaring.

Tom said:” It is incredible that there are now more credit cards than people in the UK.

“While there is nothing wrong with the responsible use of credit, I am aware that an increasing number of local people find themselves getting financially overstretched, causing themselves and their families great upset.

“No more acute is this the case than after the big spend at Christmas and in the New Year sales, followed by the flood of credit card bills which start coming through the letterbox in January and February.”

The Conservatives have announced a series of practical proposals to help stop people getting in over their head and suffering financial distress:

  • Financial education in schools for young people between 11 and 18
  • Cracking down on illegal loan sharks
  • A cooling off period for store cards to tackle high pressure sales
  • Clearer information for credit card users on the costs involved
  • Stopping irresponsible marketing of “bankruptcy-lite” Individual Voluntary Agreements

 

Tom continued: “Tackling real problems caused by personal debt and financial exclusion is an issue of social responsibility. There is obviously a role for government to ensure consumer protection, promote financial education and encourage financial inclusion. I hope that government, civil society and business can all work together and each play their part.”

A new online campaign has also been launched – www.sort-it.co.uk – giving advice on how to plan, budget and manage your money.

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  1. 6 Support for families and education

KEY POLICIES

These are just some of the steps a Conservative Government will take to get our country back on track:

  • Enable a two-year freeze on Council Tax
  • More funding for the NHS and to continue the fight to save services at the PRH
  • Restoring the link between the state pension and earnings
  • Keeping free bus passes, free TV licences and the winter fuel allowance
  • Radical reform of the immigration system with an annual limit imposed
  • ‘Never’ to Britain joining the Euro
  • We would restore teachers’ authority in the classroom
  • 400,000 apprenticeships, college and training places to boost job numbers
  • Laws strictly enforced to tackle drug and alcohol abuse
  • Police power to use instant sanctions to deal with anti-social behaviour
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Write to: Tom Biggins, Broadway House, 2 Haygate Road, Wellington, Telford, TF1 1SG

Telephone: 01952 253473

Email: tom@tombiggins4telford.com