IFS research: Conservative mortgage penalty hitting millions of homeowners

EMBARGO: 13.00 Wednesday 21st June 2023 

Responding to the IFS report showing interest rate hikes could see 1.4 million people lose 20% of their disposaible income, Liberal Democrat Treasury Spokesperson Sarah Olney MP said:

"These stark figures show struggling homeowners are facing savage cuts to their incomes as mortgage rates go through the roof.

“The blame for this lies squarely with this Conservative government and their chaotic mismanagement of the economy. Jeremy Hunt has totally failed to get inflation under control and millions of families are paying the price through a crippling Conservative mortgage penalty.

“It is shocking that the government is still refusing to help struggling households despite being responsible for this cost of living catastrophe.”

ENDS