Lib Dems slam "unsustainable" consumer debt

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Lib Dems slam "unsustainable" consumer debt

The government has come under fire for not putting enough emphasis on other areas of the economy while consumer debt continues to spiral.

Liberal Democrat shadow Chancellor Dr Vincent Cable suggested that the Chancellor Gordon Brown is still relying on consumer debt to grow the economy.

"The chancellor is relying on consumer debt to fuel growth, while investment and manufacturing remain sluggish," Dr Cable said.

"It is time the government took action to protect ordinary borrowers against irresponsible lending."

He also added that he believed such consumer debt was "unsustainable", and that it was being fuelled by a "house price bubble".

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