Clive Efford
Main Page: Clive Efford (Labour - Eltham)Department Debates - View all Clive Efford's debates with the HM Treasury
Economic Update
Clive Efford Excerpts(1 year, 6 months ago)
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Jeremy Hunt
I am meeting many different people to discuss that very issue, but I am afraid that I can only point the hon. Gentleman to my earlier answer that I am not announcing any decisions on it today.
Clive Efford (Eltham) (Lab)
The Chancellor is taking plaudits for having calmed the markets, but he has not resolved the problem—he has just stopped it getting worse. Gilts will still cost more so borrowing will still cost more for the Government in perpetuity, which will have an impact on people’s mortgage rates. Does he expect repossessions to go up in future? If so, what action will he take to assist people who find themselves in that situation because of the Prime Minister’s reckless Budget?
Jeremy Hunt
It is because I do not want that to happen that I have taken the very difficult decisions today.