Abacus Daily Debt News

Britain will see a “decade of debt”

The government has been accused of condemning Britain to a "decade of debt" by leader of the Liberal Democrats Nick Clegg.

He said that the measures outlined by the chancellor in this year’s Budget show that ministers are "incompetent" at helping UK consumers.

Mr Clegg claimed that the "biggest disappointment" of the Budget is its failure to "put money into people’s pockets to help them make it through this recession".

He argued that taxes in this country are too "heavy" for people who cannot really afford them and too "easy" to be avoided by the rich.

And he criticised the Labour government for sentencing the UK to "years of unemployment and a decade of debt" due to its massive amount of public borrowing.

Elsewhere, National Association of Estate Agents chief executive Peter Bolton King likened the chancellor’s efforts to aid the housing sector as trying to put out a fire with a "water pistol".

By Jamie Price