"Most of the productivity gains appear to go to the top 1 percent. Most people don't have enough income and as a result, they borrow additional money by using their credit card and they fall into high debt. The result of the growing income gap is a slower growing GDP (too few people with money to spend) and a rising tide of indebtedness."

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We should be looking at putting a limit on the interest that can be charged on things like store cards.You don't want to end up with totally draconian credit controls but you want some common sense. We want cooling-off periods for store cards so people can't take them out and go straight to the counter and buy things.

— George Osborne