Oral Answers to Questions
Debate between Laura Trott and Allan Dorans(6 months, 3 weeks ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
The Chief Secretary to the Treasury (Laura Trott)
The Office for Budget Responsibility expects UK living standards to grow in all years of the forecast period.
Allan Dorans
The Building Societies Association described the housing market as “broken”, with first-time homebuyers facing the toughest housing market conditions in 70 years. With the International Monetary Fund projecting interest rates to be around 5% for the remainder of the year and the Government rejecting the Scottish National party’s calls to reinstate mortgage interest relief, does the Chancellor anticipate any relief for first-time buyers in the near future?
Laura Trott
The hon. Gentleman will know that the Bank of England is independent. The good news is that the OBR expects inflation rates to fall to near target in the very near future.