Labour responds to the Bank of England’s decision to raise interest rates by 0.25%

Pat McFadden MP, Labour’s Shadow Chief Secretary to the Treasury, responding to the Bank of England’s decision to raise interest rates by 0.25%, said:

“This underlines the seriousness of the situation facing the economy. Many families will be worrying about the impact this will have on their household bills.

“We need a plan for a stronger, more stable economy, that can weather the short-term issues and fix the foundations for the long-term.”