Barclays boss not worried about debt

The boss of Barclays Bank has been speaking out over debt in the UK, saying he is not worried about the current situation.

Paul Clarke, the retail and wholesale sectors national director, was speaking to local retailers in Cambridgeshire about the future of the sector.

He said to an invited audience: "We are comfortable with what we see, so don't worry about the debt."

As the boss of Barclays he is responsible for £5 billion of debt in the sector in the UK, but even so he remains bullish about what's happening.

Mr Clarke said the general health of the high street is something people should not be too concerned about.

However, he cautioned: "I think it is still strong, but I also think the Government overstates this."

At present, retail confidence is at its lowest point for the last 18 months, but on the whole, surveys have shown that consumer confidence remains strong.
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