Unemployment once again approaching the million mark
June 14, 2006 4:59 PM
Responding to figures on unemployment released today by the Office of National Statistics (ONS), Liberal Democrat Shadow Chancellor Vince Cable MP said: "Unemployent measured by the claimant count has risen every month bar one since February 2005 and we are once again approaching the million mark.
"Both the Governor of the Bank of England and the Chancellor have signalled that they expect interest rates to rise which will tip some companies over the edge and increase the pressure on seriously indebted households.
"Rising unemployment will mean that those who have heavily borrowed and have high mortgage obligations, will have growing debts servicing difficulty leading to repossession. The problem as yet is on a modest scale comparing to the early 1990s, but the trend is ominous.
"Unemployment should be a success story for this Government, yet it may well once again become an issue of acute political importance."
