Chancellor Jeremy Hunt to meet lenders as mortgage crisis worsens June 23, 2023 Chancellor Jeremy Hunt will ask banks if they can do more to support struggling households after a shock interest rate hike deepened the mortgage crisis. He is meeting large lenders including HSBC and Santander in Downing Street this morning as the government comes under pressure to relieve the pain. Prime minister Rishi Sunak and Hunt [...]
Labour’s plan to force banks to help on mortgages branded ‘risky’ and ‘counterproductive’ June 22, 2023 Labour’s plans to force banks to help struggling borrowers with their mortgages have been slammed as “risky” and “counterproductive”. The party says lenders should be compelled to help mortgage holders struggling with payments in a bid to avert a looming mortgage crisis as interest rates are expected to keep rising to bring inflation down. Shadow [...]
‘Economic stability must come first’: Labour’s Reeves backtracks on £28bn green prosperity plan June 9, 2023 Labour has backtracked on its £28 billion green prosperity plan, saying “economic stability” must come first if it wins the next election. Shadow chancellor Rachel Reeves said the Opposition could not commit to spending figures until the financial situation it would inherit becomes clearer. The party had promised in 2021 to invest £28 billion a [...]