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Conservative party set to tackle consumer debt

As we covered earlier today, the Conservative party has set out a number of specific "transparent measurements" for the future which will allow those in the UK to monitor the performance of the UK economy. However, George Osborne has also specifically highlighted the issues for savers in UK who have been one of the larger net losers in the aftermath of the credit crunch and the recession.

These are people in the UK who have saved for their future and many of them were living off their savings income until retirement. However, with base rates slashed to 0.5% we saw savings rates head south and many of them saw their savings income literally disappear overnight. The Conservative party, with George Osborne as the Chancellor of the Exchequer, has promised to tackle household debt (which is at record levels) and will introduce a more responsible attitude towards credit and debt.

While these are the words which many in UK want to hear it will not be so easy to put these thoughts and hopes into action. The UK economy has been on the boom and bust rollercoaster for many decades now and it will be very difficult to change the mindset of investors, consumers and businesses in the UK.

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