North East's insolvency figures "show the personal and economic consequences of a recession which has been made in Downing Street"

Iain Wright MPNew figures released yesterday by the Insolvency Service have put the North East region at the top of the table when it came to personal insolvencies in 2011. Statistics show that the region had the highest insolvency rate for individuals in England and Wales last year.

Commenting on the figures, Hartlepool MP and Labour’s Shadow Business Minister, Iain Wright said:

“These figures are individual tragedies for each person who has had to go through this process and reflect the squeeze on living standards that many people in the North East and elsewhere in the country are having to deal with. They show the personal and economic consequences of a recession which has been made in Downing Street.

“We need a Government that cares about the hard-pressed families in the North East, facing pressure from higher bills and rises in VAT, rather than the present out-of-touch Government, who would prefer to give a tax break to millionaires than help millions of people.”


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Editor's notes:

 

Link to regional breakdown of personal insolvency statistics http://www.insolvencydirect.bis.gov.uk/otherinformation/statistics/regionalstats2012/Statistical%20Release%202010%20and%202011%20-%20Web.pdf