MP: Government to blame for personal bankruptcy increase

David Ruffley MP has been speaking out on bankruptcy, EADT 24 has reported.

Mr Ruffley, member of parliament for Bury St Edmonds, said the government should be held responsible for the current financial situation which has left many households struggling to clear debt.

“It didn’t keep a grip on the banks and credit card companies, which let unsustainable credit rip at a totally unsustainable rate and families here [in his constituency] are getting crucified as a result,” he was quoted as saying.

The comments follow the Ministry of Justice’s figures on insolvency in England and Wales, which showed an increase in self-petitioned bankruptcies and Individual Voluntary Arrangements (IVAs) between the first and second quarters of this year.

Statistics showed some areas are faring worse than others, with the number of people declaring themselves bankrupt in Bury St Edmonds increasing by 62 per cent, the website said.

David Ruffley has been MP for Bury St Edmonds, Stowmarket and Needham Market since 1997.