Liberal Democrats in Business

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Financial advice must be available now to halt spiralling debt - Cable

8.15.00am GMT Mon 15th Jan 2007

Commenting on today's Government launch of a taskforce to look at offering free financial advice for all adults, a policy advocated by the Liberal Democrats, Liberal Democrat Shadow Chancellor, Vince Cable MP said: "I am glad the Government has finally woken up to the needs of millions of hard working families.

"With personal debt levels spiralling out of control, free generic financial advice is needed now. However, reports that this scheme will not be up and running until 2012 are shocking.

"It would seem that even the Government now recognises that while millions remain eligible for means tested benefits, people will not know their suitability for Personal Accounts without independent advice.

"The Government does not need to reinvent the wheel around financial advice but should aim to build on existing services in partnership with organisations such as the Citizens Advice Bureau."

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[Previous news story]: Poor hit hardest by token meter back charges - Kramer (Mon 15th Jan 2007).
[Next news story]: Rising inflation could lead to more repossessions - Cable (Tue 16th Jan 2007).

Related News Stories:

Mon 2nd Apr 2007:

[Government's debt position not flattering - Cable]

Wed 25th Oct 2006:

[Personal Debt Crisis Deepens - Cable]

Wed 20th Sep 2006:

[Government Should be Honest About PFI Debt - Cable]

Wed 6th Sep 2006:

[Better Financial Advice Needed for Consumers - Cable]

Thu 3rd Aug 2006:

[RATE RISE WILL HIT THOSE IN DEBT - CABLE]

Sun 23rd Jul 2006:

[YOUNG PEOPLE'S DEBT SPIRALLING OUT OF CONTROL - CABLE]

Fri 14th Jul 2006:

[Urgent need to help young with debt - Cable]

Fri 24th Jun 2005:

[Liberal Democrats Welcome Funding for Debt Advice - Cable]

Thu 19th Feb 2004:

[Bank Profits Are At The Expense Of Consumer Debt - Cable]

Thu 18th Sep 2003:

[DEBT: Students mortgaging their futures, says Cable]

Thu 1st May 2003:

[FSA PLANS COULD OPEN DEEP CHASM IN INDEPENDENT FINANCIAL ADVICE ]

Related Speeches:

Fri 7th Mar 2003:

[Retirement Income Reform Bill (Second reading): Cable on access to financial advice]

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