'Black hole' in finances explainedThis afternoon, Labour's shadow chancellor will warn that the latest interest rate rise will have a huge impact on consumers and companies alike.
Speaking at the Anthropy conference in Cornwall, Rachel Reeves will say:"Rising interest rates will mean families with already stretched budgets will be hit by higher mortgage payments. It will mean higher financing costs for businesses. "For many firms who have had a tough couple of years, this will mean desperately difficult decisions about whether to carry on.
"And it will mean profound implications for growth as demand is sucked out of the economy - and even those firms that are keeping their head above water face difficult decisions about whether to invest or expand." Yesterday, a new poll carried about by Ipsos for Sky News revealed that more than a quarter of people have started using their credit cards to buy food - and a fifth have borrowed money to adjust to rising prices this year.
Issues with this People are hit with high cost of living and bills they don't have enough money to save to feel the full benefit Will hit working class families with mortgages Wages are not being met up with inflation * Increasing the personal tax allowance to 20k will help
Well at least one of them is a 'story.' I'm not sure about the others.
Dark times.
Let persevere with rate rises even though it is having zero effect on inflation, but makes the banks more money whilst again taking it out of our pockets.
Am I the only one who loves the Bounty bars.
They're not curbing inflation with the interest rate rises as it's not demand led. Pandering to institutional investors but neglecting the masses facing horrendous increases in cost of living + rising mortgage repayments now. Greed across board. Yet socialism is criminalised.
One of the most advanced countries in the world and they can't manage to 'count' the votes within hours like the rest of the democratic nations? It stinks AGAIN!
No bounty but people like milkyway ? Looks like I'll be buying just Cadburys Heroes now 😁
I like bounty the best that’s very odd.
I am not one of the 40%, I like a bounty bar in my celebrations
This is just becoming a joke now
English government destroying people but people are outraged if you don’t sing the national anthem 😂😂😂😂
Hello CBDCs. And Extreme Government Control.
Well done thick Leave voters. 👏
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