The Bank of England reports a significant increase in mortgage arrears due to rate hikes. Chancellor Jeremy Hunt's budget includes tax cuts, public service protection, and economic growth plans. Tory MPs urge the Bank of England to reduce rates as mortgage arrears escalate. Hunt responds to GDP stats, emphasizing tax cuts worth £900 annually for average earners to boost employment and the economy. Hunt considered aiding first-time homebuyers in the budget but refrained to prevent potential house price drops. London home buyers are still experiencing £200 higher mortgage costs post Liz Truss's mini-budget.
"We need to make work pay which means ending the unfairness of taxing work twice.” Chancellor @Jeremy_Hunt responds to today's GDP statistics from the @ONS & sets out how tax cuts worth £900 a year to the average earner will help get people into work and grow the economy. https://t.co/UK0sV0Ccxj
Sadiq Khan: London home buyers still facing £200 higher mortgage costs since Liz Truss's mini-budget https://t.co/S5mF8j46tU
UK Chancellor Jeremy Hunt considered giving first-time homebuyers more help in last week’s budget but chose not to amid concerns that house prices could fall further https://t.co/vroE1v0yV4
Tory MPs renew calls on Bank of England to cut rates as mortgage arrears grow Budget watchdog says it is unclear how Jeremy Hunt's spending plans "add up" @singharj reports https://t.co/nyyiSwfr3N
Last week Chancellor @Jeremy_Hunt announced a Budget that cuts taxes, protects public services and helps grow the economy. Watch below to find out the top 10 things you need to know ⬇️ https://t.co/gti0UDEOFO
Bank of England reveals sharp rise in mortgage arrears as rate hikes bite https://t.co/QNPhfryWdI