The latest bankruptcy figures released by the Ministry of Justice demonstrate that the UK’s economic chickens are “coming home to roost”, it has been claimed.
According to Stephen Hammond, an economic spokesperson for the Conservatives, the rise in bankruptcy rates around the country is the result of poor economic management by prime minister Gordon Brown.
Record numbers of British consumers entered bankruptcy last year and Mr Brown ought to shoulder some of the blame given that he was chancellor of the exchequer for much of the past decade, Mr Hammond has suggested.
“Personal bankruptcy is the tragic price many are paying for Gordon Brown’s economic incompetence,” he said.
“On his watch, we have falling take-home pay, soaring living costs and over £1 trillion of personal debt.”
Earlier this week, the TV sports betting pundit Angus Loughran, more widely known as ‘Statto’, was declared bankrupt by a court in Manchester.