Rishi Sunak is facing mounting pressure to help homeowners after amid warnings interest rates could rise to 6 per cent But Treasury sources have ruled out stepping in to help, warning it would only further fuel inflation, RichardVaughan1 reports
Labour’s shadow Chief Secretary to the Treasury, Pat McFadden, said the rises in interest rates were “like rolling financial thunder” adding that around 200,000 people a month were coming off their fixed rate deals.
“Of course I know it’s a challenging time for people with mortgages as interest rates are going up,” he said.
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