Oral Answers to Questions

Joshua Reynolds Excerpts

Tuesday 20th May 2025 Commons Chamber

[The Exchequer Secretary to the Treasury (James Murray)]

We are determined to go further and faster to reform business rates, which is why we will publish an update paper in the summer. I am also glad that we can work with councils such as Ipswich to ensure that we can turn around town centres after years of Conservative decline.

[Mr Joshua Reynolds (Maidenhead) (LD)]

T3. With interest rates still high, what assessment has the Chancellor made of the number of homeowners going into mortgage arrears and the impact that is having on families right across the UK?

[The Economic Secretary to the Treasury (Emma Reynolds)]

We are in weekly touch with the Financial Conduct Authority, which regulates mortgages, and under this Government we have seen four interest rate cuts since the election, which is bringing mortgage rates down for hard-working people across the country.