Huw Pill and BoE rate rise: Emergency support needed for homeowners on the brink

Lib Dem Media Team: 020 4548 3828 Press@libdems.org.uk

EMBARGO: Immediate release 

Responding to the Bank of England’s Chief Economist Huw Pill’s comments suggesting a significant interest rate rise next month in response to the Budget, Liberal Democrat Treasury Spokesperson Sarah Olney said:

“This will be a bitter pill to swallow for homeowners facing mortgage bill agony because of the government’s botched budget.

“Struggling families already unable to keep up with the cost of living now risk losing their homes. It is now or never to save homeowners on the brink. The government must bring in an emergency support package for struggling mortgage borrowers ahead of next month’s likely rate rise.

“Liz Truss and Kwasi Kwarteng must recall Parliament now to fix their budget which has betrayed homeowners and trashed the great British pound.”

ENDS

NOTES TO EDITORS

Huw Pill's comments reported by Reuters:
https://www.reuters.com/markets/europe/bank-englands-pill-sees-significant-move-november-2022-09-27/