The chancellor told MPS some of the mortgage relief schemes being talked about would prolong the “inflationary agony”.
Jeremy Hunt said rates have risen faster in the USA and Canada. He is due to meet mortgage lenders later this week to ask what help that can give people struggling to pay higher mortgages.
He was answering former Tory chairman Sir Jake Berry who spoke of the “mortgage bomb about to go off” and SNP Treasury spokesperson Stewart Hosie who asked how the government planned to “tackle the mortgage pain” being suffered by the public.
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