Report highlights affect of credit crunch in Bristol

11 April 2008

CHRIS SKIDMORE has compiled a report showing that nearly 45,000 households in Bristol are in a 'sub prime' category- meaning that households may suffer to meet mortgage and other debt payments as a result of the credit crunch crisis.
Three Bristol constituencies, Bristol South, Bristol East and Bristol North West have more than a quarter of households at risk.

They are classed in the top third of constituencies most likely to be affected by the worsening credit crunch.

Bristol South ranks as the most at-risk constituency in the area, with 13,091 households at risk- 31% of all households in the area.

This places it 177th worst affected in the country 27% of households in Bristol East (199) and Bristol North West (202) are also reaching debt levels that place them in a similar risk category.

The report, compiled by Chris, the Conservative prospective MP for Kingswood, also shows how the cost of living has risen dramatically under Labour since Gordon Brown has become PM:

• The price of butter increased by 37%
• The price of a dozen eggs increased by 34%
• The price of a loaf of bread increased by 28%
• The price of flour increased by 22%
• The price of a pint of milk increased by 17%
• The price of cheese increased by 17%
• The price of a sack of potatoes increased by 11%
• Gas and fuel prices have increased by 10%
• Petrol prices have increased by 8%

Chris said: '”These figures reveal the desperate situation that households in Bristol and Kingswood are finding themselves in.

“The extra taxes in the budget have done nothing to help hard working families who are now facing some tough times ahead. As mortgages become more and more expensive, we could potentially be sitting on a timebomb of debt.”

Charlotte Leslie, the Conservative prospective MP for Bristol North West, where nearly 12,300 households could be affected by the credit crunch crisis, said: “This report highlights the real difficulties that households will face over the coming months.

“On the same day that the 10p rate of tax has been abolished, it will be the most vulnerable families in Bristol that are being hit hardest by the rising cost of living under Labour.”

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