Interest rates rise: Sunak's pledge to halve inflation in tatters

EMBARGO: IMMEDIATE RELEASE

Responding to the Bank of England raising interest rates, Liberal Democrat Spokesperson for the Treasury Sarah Olney MP said:

“This news will come as a hammer blow to countless hardworking families.

“People seeing their mortgage bills go up by hundreds of pounds a month have been left high and dry by this Government, which sent interest rates soaring with their catastrophic mini budget.

“Rishi Sunak’s pledge to halve inflation is in tatters.

“The Government could be cutting household energy bills and extending energy support for businesses to help keep prices down. Instead, their inaction means high inflation could continue to harm hardworking people for longer.”

ENDS