question for David Cameron on personal debt 2010

What is the Conservatives policy on tackling the astronomical levels of personal debt in the UK?

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[maxpoweruk2008]

Politics is dead, bunch of non-technical people trying to fix technical problems! we need TVP.

A little example

According to his wiki George Osborne, our current chancellor, has a 2:1 degree in modern history!! Eh... wot about maybe economics. So the guy in charge of our public finances has a history degree, and a 2:1 at that!

[m0o0n0i0r]

its about time we all took responsibility for our own actions and ourselves where possible, instead of living in a "nanny state"

[m0o0n0i0r]

However this would not help existing borrowers - but would make people's money go further in the shops...but no government would do this as they would not be voted in. But to conclude - I do not think writing off/inflating debts away is the correct solution also...

[m0o0n0i0r]

BTW thought I should add - frugal decisions I have made:

1) I live in a rented room in a shared house - did not want to buy my own place as I think house prices are too expensive.

2) Always saved during the good times.

3) Paid for things like income protection insurance - thank god I did as I was made redundant 2 months ago, but keep your chin up...

Anyways - I believe a solution to the problem about personal debt would be to make the costs of good cheaper i.e. target inflation

[m0o0n0i0r]

however if you are a borrow, a bit of advice, never give up your personal freedoms so easily...personally I dislike politics as they always seem to talk about "being in power", rather then "being in office" to serve the people.

[m0o0n0i0r]

in essence due to historically base rates, the banks can reduce the interest paid on savings, which in turn reduces the interest rates paid to borrowers...now I do agree that this is correct to give borrowers a chance to pay the money back...for example, if base rates were 4% (in line with CPI at 3.7% (June 2010) - borrowers would end up paying even more interest on their debts. The country is in a mess and we all need to accept the pain - just like me on my savings...

[m0o0n0i0r]

Hi,

Why should David Cameron do anything? at the end of the day nobody held a gun to these people's heads to borrow money. I know for my own personal experience...

I am deb free, and dont come from a rich family but was always tought the value of money...during the boom years, I was offered loans - but never took them and have always saved my money.

Today due to record low BOE base rates I get near nothing for my savings and hard work. However borrowers are currently getting a bailout..