Manitoba Liberal campaign promise includes aid for people's 'crushing' weight of debt

A man looks at his bills in this stock photo. (RODNAE Productions/Pexels)

Manitoba Liberals are promising help for people and businesses facing crushing debtloads.

Campaigning for the Oct. 3 provincial election, Liberal Leader Dougald Lamont says he would commit $2 million a year to the Credit Counselling Society, a charitable group that provides advice and helps people restructure their debt.

Lamont says he would also set up a Debt Compromise Board -- a forum where Manitoba businesses and farmers could meet with their lenders to find ways to restructure debts.

He says lenders would benefit because it is better to collect some of the money owed rather than nothing.

Lamont says rising interest rates, inflation and the cost of housing are driving more and more people into levels of debt that can spiral out of control.

The Liberals held three of the 57 legislature seats when the election was called.

This report by The Canadian Press was first published Sept. 27, 2023