Tories blame Brown for Britain’s bankruptcies

The Conservative Party has blamed prime minister Gordon Brown for the rising level of personal bankruptcy in the UK, it has emerged.

According to the Tories, it has been Mr Brown’s lack of competent management of the economy that has seen increasing numbers of people around the country enter
bankruptcy in an effort to solve their debt management problems.

In fact, the opposition party has described the economic issues that are now having a serious impact on the personal finances of thousands of consumers as chickens “coming home to roost”.

“For ten years, Gordon Brown fuelled Britain’s economy with easy credit and public borrowing. On his watch, personal debt has soared to more than £1 trillion,” said shadow chief secretary to the Treasury, Philip Hammond.

“Personal bankruptcy is the tragic price many are paying for Gordon Brown’s economic incompetence.”

Meanwhile, the accountancy firm Grant Thornton has described the latest personal insolvency figures for the UK as being the “tip of the iceberg” in terms of the country’s overall debt problems.