Centre for Cities: High debt levels in North leave people badly prepared post-Coronavirus
THE
Liberal Democrats have responded to a Centre for Cities report warning
that high debt levels in Northern England and Wales will leave people
poorly prepared for the post-coronavirus economic downturn.
Their new research maps debt levels in England and Wales and found that in Northern England and Wales’ cities, people have the highest levels of debt relative to their incomes.
On average, for every £5 people earn in Warrington, Swansea, Sunderland and Wigan, they owe around £1. This compares to Oxford and Cambridge where people owe just 35p for every £5 they earn on average
Liberal Democrat Spokesperson for the North John Leech said:
“Report after report and analysis after analysis shows the North hit hardest. From schools to busses, pensions to child poverty, and now debt.
“Let’s be absolutely clear: this is another example of the undeniable and devastating result of decades of overinvestment and relentless focus on London and the South, and it cannot be solved overnight with warm words.
“It’s time to take the North/South divide and its impact on people’s lives seriously.
“Ministers, MPs and councillors must listen and commit to investing in the North, and they must do it with real urgency to guarantee real equality across our region.
“Only the Liberal Democrats are standing up for the North. We will continue fighting to rebalance our regional economies, making sure those in the North are not continuously left worse off and build a brighter future where everyone gets their fair share, no matter where they live.”
ENDS.
Their new research maps debt levels in England and Wales and found that in Northern England and Wales’ cities, people have the highest levels of debt relative to their incomes.
On average, for every £5 people earn in Warrington, Swansea, Sunderland and Wigan, they owe around £1. This compares to Oxford and Cambridge where people owe just 35p for every £5 they earn on average
Liberal Democrat Spokesperson for the North John Leech said:
“Report after report and analysis after analysis shows the North hit hardest. From schools to busses, pensions to child poverty, and now debt.
“Let’s be absolutely clear: this is another example of the undeniable and devastating result of decades of overinvestment and relentless focus on London and the South, and it cannot be solved overnight with warm words.
“It’s time to take the North/South divide and its impact on people’s lives seriously.
“Ministers, MPs and councillors must listen and commit to investing in the North, and they must do it with real urgency to guarantee real equality across our region.
“Only the Liberal Democrats are standing up for the North. We will continue fighting to rebalance our regional economies, making sure those in the North are not continuously left worse off and build a brighter future where everyone gets their fair share, no matter where they live.”
ENDS.
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