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Rishi Sunak will have to intervene to help households cope with the rising cost of mortgages, a former chairman of the Conservative Party has said.
Sir Jake Berry suggested the Government should act now to take the sting out of rising interest rates which are piling the pressure on household budgets.
He told Times Radio: “We are going to have to do something as a Government to help people out. We cannot see mass evictions... I do think the Government’s going to have to act.”
Jeremy Hunt, the Chancellor, this morning appeared to rule out any financial intervention on mortgages as he told broadcasters the Government needed to “stick to its guns” on tackling inflation.
Speaking as official data showed inflation remained stubbornly high in May, Mr Hunt said that “no matter what the pressure from left, right or centre, we won’t be pushed off course”.
But Sir Jake said that “governments always say they’re not going to do things until they actually have to do it”.
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