Vincent Cable

Liberal Democrats | Twickenham

UNEMPLOYMENT WILL CONTINUE TO RISE, IT’S OFFICIAL – CABLE

Responding to the revelation in the Pre-Budget Report that Claimant Unemployment is forecast to rise ‘to 1.01 million in 2007-08, from recent levels of 0.96 million’, Liberal Democrat Shadow Chancellor, Vince Cable MP said:

“This is the first acknowledgement by the Treasury that unemployment will continue to rise, despite the optimistic forecast for the economy.

“My particular anxiety is that rising unemployment is contributing to rising home repossessions, because very few home buyers are properly insured against loss of income, and there is little support from the benefits system.

“I have asked the Chancellor to meet all the major mortgage lenders to ensure that, with more people losing their jobs, this will not cause growing repossessions.”