Minister says "we must deceive our own supporters"

What I'm talking about is personal debt, private debt. This is a problem in addition to the problem of the public finances, and its roots lay before 1997. So should the government dictate how much members of the public are allowed to borrow? Sigh. :roll: Of course on the micro-scale the government should not be dictating individual lending decisions, however we do hold the government responsible for macro-economic stability and where a government changes regulations governing lending which essentially encourage the sort of reckless levels of personal debt which the country has...yes this is a failing of the government's economic policy. But that won't wash with a libertarian anarchist will it?

I quite agree, TJ. And labour governments in the past have regulated - perhaps even over-regulated - the overdrafts, personal loans and hire purchase arrangements available to the public. Brown has failed to do so. As I mentioned above, I don't remember "credit" being as freely available under the conservatives as it has been for the last decade or so - although the number of unsolicited begging letters from banks urging me to take advantage of their facilities has diminished somewhat of late! This could be just a failure of memory ... but I don't think so

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