Neil and Malcolm discuss the credit crunch
Neil Carmichael and Malcolm Harbour MEP discuss the economic crisis and the credit crunch
Neil Carmichael, Parliamentary Candidate for Stroud, welcomed Malcolm Harbour MEP and member of the Front Bench Business and Regulatory Reform Team to Upton St. Leonards. It was an opportunity to discuss and analyse the unfolding financial crisis.
Neil Carmichael commented, “The credit crunch is incredibly serious and demands firm and decisive action. One problem is that banking regulations have not been sufficient to cope with the massive debts that have been amassing for several years.
“To make things worse, we now have inflation. Consumers are already finding that basic commodity prices are increasing dramatically and this is having an understandable impact on spending behaviour. The government is virtually helpless now because it, too, has overspent.”
Neil added, “All of this proves that we need to have an economic policy which is sustainable through being built on the solid foundations of fiscal responsibility.”
Picture: Malcolm Harbour MEP, Linda Morley and Neil Carmichael after the formal meeting is Upton St Leonards
