Rachel Reeves responds to interest rates going up

Rachel Reeves MP, Labour’s Shadow Chancellor, responding to interest rates going up, said:

“Today's interest rate announcement will be a source of huge concern for families across the country who will be thinking about the impact this will have on their finances.

“The government think the cost of living crisis is over but the reality is that too many families are dealing with a Tory mortgage penalty and battling with soaring food prices.

“That’s why their choice to give the top 1% of pension savers a £1 billion tax cut while working people’s taxes go up is so unjustified.

“Labour will bring the sound economic management urgently needed to stabilise the economy. Our mission to have the highest sustained growth in the G7 will get us back on track again.”