‘Solving debt problems of some may involve others paying more’

Solving debt problems for one section of the population will have to involve other people paying more, the Department of Finance has warned.

Setting out its strategy statement for 2011 to 2014, it said finding solutions to the problem of distressed mortgages and difficulties with personal debt will be one of its goals for the next three years.

It says the “improvement of living standards for all our citizens” is one of its key objectives, and this will involve a “fair resolution of the problem of excess debt of citizens”.