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Brown shrugs off household debt concerns
Gordon Brown has shrugged off concerns expressed by the deputy governor of the Bank of England that household debt is too high.
"As far as effect on the economy is concerned, it is true that there are individuals who may find themselves overstretched," the chancellor told the Commons Treasury select committee.
"But it is not true that the economy is in a parlous position as a result of this."
He also insisted that his spending plans were "fully financed and fully affordable", amid claims that he will have to raise taxes.
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