MP, Labour's Shadow
Chancellor, responding to the Chancellor's statement
following meetings with banks this morning, said:
“Today's weak response from the Government on a mortgage crisis
they created shows just how little they understand what families
are facing.
“Questions remain on how voluntary these measures are. The
Government must offer clarity and confidence to homeowners by
putting in place requirements now to reassure households.
“Labour's five-point plan to ease the Tory mortgage penalty
offers practical help now, while our commitment to fiscal
responsibility and growth will secure our economy for the future.
“Instead of shrugging their shoulders, the Tories should be
taking responsibility and acting now.”
Ends
Notes to editors:
Questions remaining for government:
- Does this apply to all lenders?
- How many of these measures are voluntary?
- Will accessing a measure constitute a credit event?
- Will the Government be saying anything about renters?
- Will there be fees or penalties for moving to interest only
or extending the term?
Responding to 's announcement following
today's summit with mortgage lenders, Liberal Democrat Treasury
spokesperson said:
"This is a sticking plaster for a gushing wound. Even after
today, bailiffs will still be knocking on people's doors because
the Government refused to help.
"Struggling families still face the looming prospect of losing
their homes because the Government crashed the economy and sent
mortgage bills spiraling.
"Britain is facing a mortgage crisis and we have a Chancellor who
simply isn't up to the job. is failing on his inflation
target and now failing to help families with the
consequences.
"It adds insult to injury that there is still no help for renters
who face unbearable payments. is failing families and
pensioners. If he is not going to take decisive action then he
should step aside."
The SNP has said measures outlined by the UK government in
response to the mortgage rates crisis are “paper thin” and “will
be cold comfort for people facing soaring mortgages and do
nothing at all for renters” - following the Chancellor’s meeting
with banks today.
Commenting, SNP Social Justice spokesperson said:
“These paper thin measures from the UK government will be cold
comfort for people facing soaring mortgage bills - and they will
do nothing at all for those facing steep rent hikes.
“The Tories trashed the economy with Brexit, austerity cuts and
shambolic mismanagement - and now millions of people are paying
the price for Westminster failure.
“A stay of execution on home repossessions is welcome - but it
won’t help families cover the thousands of pounds they are having
to pay in extra mortgage interest under the Tories, nor will it
help renters cover the costs being passed on by their
landlords.
“The UK government must do more to get mortgage rates down - but
they are being hindered by Brexit and other damaging Tory
policies that are fuelling the UK’s high and stubborn
inflation.
“The SNP is the only party offering real change with independence
- and real help with the cost of living through progressive
policies like the rent cap and Scottish Child Payment.
"The Tories and pro-Brexit Labour Party only offer more of the
same damaging policies that got the UK into this mess - obsessing
over Brexit, imposing cuts and creeping privatisation, attacking
devolution and denying Scotland's democratic right to choose our
own future.
"At the next election, voting SNP is the only way to secure
independence, tackle the cost of living and get rid of unelected
Tory governments for good."
