Plaid Cymru aims to ease personal debt problems

The political organisation calls itself “the party of Wales” and has made the announcement in response to what it perceives to be the serious and growing problem of personal debt.

According to recent figures released by the Council of Mortgage Lenders, the number of repossessions in England and Wales rose by as much as 65 per cent last year and now is the time to “make a difference on tackling the problem”, Plaid Cymru asserts.

Social justice spokesperson for the party Leanne Wood said: “A Plaid assembly government would create a new people’s bank providing over the counter financial services to the financially excluded.”

Inflationary pressures coupled with rising house prices could see more people apply for Individual Voluntary Arrangements (IVAs) around the UK, Senior economist at the Centre for Economics and Business Research suggested recently.