Interest rates: A hammer blow and the blame lies squarely with the Government

EMBARGO: Immediate release

Responding to the Bank of England raising interest rates, Liberal Democrat Leader Ed Davey said: 

“This is a hammer blow to hardworking families across the country. Today’s decision to hike mortgage rates has added fuel to the fire of this cost of living crisis. 

“The blame lies squarely with the Conservative Government whose botched budget last year sent mortgage rates spiralling. Their complete failure to get inflation down has led to homeowners paying the price. 

“Since Rishi Sunak became Prime Minister, the typical homeowner is paying £822 more in mortgage interest payments. He has done nothing to help families with this. It is time he stepped in and introduced an emergency mortgage protection fund to stop people losing their homes.”

ENDS