Cameron to urge the public "Pay off your debts"

Danthus

Danthus

Danthus

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The country is not emerging from the economic turmoil as quickly as expected because of the “uncomfortable” international situation, the Prime Minister will say.

Amid growing pressure from rising household bills, voters are beginning to question why the “good times are so long coming”, Mr Cameron will tell delegates at the Conservative Party conference.

But he will call on the public, as well as governments and banks, to take responsibility for repairing the economy. He will urge people to pay off their credit and store card bills and “deal with your debts”.

In what is likely to be seen as a direct appeal to women, Mr Cameron will admit that it is “an anxious time” due to the rising cost of petrol, gas and electricity and food.

He will say: “The only way out of a debt crisis is to deal with your debts. That means households – all of us – paying off the credit card and store card bills. It means banks getting their books in order.”
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http://www.telegraph.co.uk/news/pol...he-sae-of-the-economy-says-David-Cameron.html

I await the calls of "practice what you preach."
 
I was under the impression (probably naively) that the "debt crisis" wasn't really down to Joe Soaps with credit/store cards and loans as these usually get paid fine, it was the insane leveraging of assets by the banks to buy other insane bad "products" from the financial markets. Under the noses of politicians just like Mr Cameron, now all of a sudden he has the answer
 
Oh I do believe they are trying to at least reduce the amount of debt they are accumulating.
It is sensible advice.
Food and electric do cost one hell of a lot more than they did two years ago.
Household wise, we buy much less, yet still pay more, there is a limit to how much one can cut back, when luxury items have already been excluded.
 
You try getting out of debt, then when you can't do it don't come complaining to us that we can't do it either!

Yes, brilliant advice :rolleyes: Also, why is this a a direct appeal to women?
 
Trouble is its a bit hard to pay off those debts.... when people are struggling to pay day to day costs as it is.
 
wakayoda said:
The banks should have had their **** together from the start, I will not pay for the mistakes of others.
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I think it was the regulatory bodies and former government who should've had their **** together.


Paying off debt sounds like a good idea to me but the only debt I've got is my student loan and Cameron isn't getting that back any time soon :p
 
Household budgets are being stretched with the cost of living and utilities. Wages have stagnated, unemployment is on the up. I imagine for some, credit card debt is not as important as the rent/mortgage and council tax and food.
 
Seems like a strange thing to say given that the OBR and his own Chancellor predict that much-needed growth in the economy will come from private sector spending outweighing public cuts - predicted primarily through household debt increasing significantly more than reduction in public sector debt.

Probably one to file in the 'Big Society' drawer of saying one thing in speeches and doing the opposite in policy.
 
Maybe it would help if the Bank of England didn't keep persisting with monetry policy that screws savers and rewards those in debt?

There is no incentive to save when base rates are at 0.5%.
 
Rich_L said:
Seems like a strange thing to say given that the OBR and his own Chancellor predict that much-needed growth in the economy will come from private sector spending outweighing public cuts - predicted primarily through household debt increasing significantly more than reduction in public sector debt.

Probably one to file in the 'Big Society' drawer of saying one thing in speeches and doing the opposite in policy.
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This exactly.

This is a ridiculous and incongruous thing for Cameron to say when his own chancellors budget forecast that UK household debt would rise from £1.5Tn in 2010 to £1.8Tn by 2015...then the OBR adjusted that figure upwards to £2.1Tn!. . This is necessary to "balance the books"

So, we need to consume more (to help grow the economy), save more (provision for your retirement) and now pay off our debts as well...all at the same time of rising inflation, stagnating/devaluing wages, massive increases in energy/food/cost of living expenses and tax credit/working benefit subsidy cuts.

How out of touch are these millionaires who run the country...

Heh, and if we actually did these prudent and sensible things and didn't just consume the latest unnecessary gadget (iphone 5 anyone?) or useless crap that we are inundated with advertising to buy 24/7, how fast would the economy tank then?

Our economic model is broken, it has given us a standard of living that is unsustainable, but which no-one wants to give up.
 
Paying off debts is fair enough, and something I agree with. However, it requires less consumption to do so, which is probably opposite of what is needed at the moment.
 
[TW]Fox;20225580 said:
Maybe it would help if the Bank of England didn't keep persisting with monetry policy that screws savers and rewards those in debt?

There is no incentive to save when base rates are at 0.5%.
Click to expand...



There's no way to raise savings rates without also raising borrowing rates, and doing the latter will kill the economy even deader than it is now.


M
 
so we the government have HUGE debts, which we cant pay back, but you, the public should pay off all your debts..... ?
 
I'm lost for words on this one.

I honestly can't believe he said that...

hahahaha can only laugh or cry.
 
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