Ahead of the publication of the Thoresen Review into personal debt today, the Liberal Democrats have released their own plans on how to tackle the rising problem of personal debt. The Lib Dem paper calls for free generic debt advice centres to be opened around the country to stem the tide of rising repossessions and bankruptcies. The service would be funded half by the Government and half by the financial services industry. Liberal Democrat deputy leader Vince Cable MP said:

"The Government has toyed with the idea of supporting a generic financial advice network for the best part of a decade, without taking any action. With credit card debt soaring, repossessions increasing and the results of irresponsible lending unravelling, this service is vital to stop families sinking further into the red.

The Liberal Democrats were the first political party to recognise the urgency of the issue of personal debt and remain the only party to set out a comprehensive action plan to tackle this looming crisis."