Rachel Reeves responds to interest rate changes

Rachel Reeves MP, Labour's Shadow Chancellor, commenting on interest rate changes, said:

“With households already paying a Tory mortgage penalty, families across the country will be worried about what rising interest rates today mean for them.

“The reality is that under the Tories growth is on the floor, families are worse off and we are stuck in the global slow lane. 

“We do not have to continue on this path of managed decline when Britain has so much potential to grow and thrive.

“Built on the rock of economic stability, Labour will tackle the cost of living crisis, and get our economy growing, so we can create good, new jobs and lead on the industries of the future.”