- Wednesday, 17 June 2009Britons are not only filing for bankruptcy due to debt - they are also nearing moral insolvency, according to one economist.
Cambridge News reports the opinions of Eamonn Butler in his new book, The Rotten State of Britain.
The news provider explains: "It's an unashamedly polemical piece, railing against the 'dishonesty, deceit and incompetence' of the leaders Butler charges with bringing a once-proud country to the edge of financial and moral bankruptcy."
Dr Butler, head of free market thinktank the Adam Smith Institute, tells the publication that many of the nation's current problems arise from too stringent regulation being enforced on the banks.
Cambridge News adds that this seems true in many of his book's claims - including its observations about the number of people experiencing debt problems and the true extent of those difficulties.
Dr Butler previously wrote on the Adam Smith Institute blog that local councils are responsible for much of the personal bankruptcy "problem" in the UK.
He explained that authorities have been known to drive individuals into filing for bankruptcy over an inability to pay their council tax bill of around £1,200.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
| |
Money Debt and Credit Ltd, Registered in England & Wales No.05588842.
Registered Office: 45 Clarendon Road, Watford WD17 1SZ
Consumer Credit Licence Number: 0580960