Liz Truss refuses to apologise for her role In mortgage rate rises In excruciating Interview

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https://leftfootforward.org/2024/04/liz-truss-refuses-to-apologise-for-her-role-in-mortgage-rate-rises-in-excruciating-interview/ Many articles from LeftFootForward today.

“Do you have an apology for the people whose mortgages went up so much when you were in office?”

Former Prime Minister Liz Truss has refused to apologise for her disastrous economic policies which led to an increase in mortgage costs, before she was booted out of office.

Truss has been promoting her new book ‘Ten Years to Save the West’ during a round of media appearances, in which she has shown little humility, blaming everyone else for her economic policies which resulted in financial turmoil, a collapse in the pound and the Bank of England having to step in to save pension funds.

Appearing on Sky News, Economics Editor Ed Conway asked: “Do you have an apology for the people whose mortgages went up so much when you were in office?”

Truss replied: “Well, I question the premise of what you’re asking me, Ed. Because the fact is, mortgage rates have gone up across the world.

“The issues that I faced in office were issues of not being able to deliver the agenda I’d set out, because of a deep resistance within the British economic establishment.”

Borrowing from the Trump playbook, Truss has blamed the ‘deep state’ for her failures in office.

She added: “I think it’s wrong to suggest that I’m responsible for British people paying higher mortgages. That is something that has happened in every country in the free world.”

https://leftfootforward.org/2024/04/liz-truss-refuses-to-apologise-for-her-role-in-mortgage-rate-rises-in-excruciating-interview/ Many articles from LeftFootForward today.

Continue ReadingLiz Truss refuses to apologise for her role In mortgage rate rises In excruciating Interview

First-time buyers fall to ‘lowest level in a decade’

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https://morningstaronline.co.uk/article/first-time-buyers-fall-lowest-level-decade

Woman looking at advertisements in an estate agents window, July 20, 2023

CAMPAIGNERS have blasted a lack of regulation in the housing market that leaves people trapped with no choice but to hand over their wages to landlords.

Today’s condemnation came as new figures revealed that the number of first-time buyers had plunged to its lowest level in a decade.

Figures issued by the Yorkshire Building Society showed that the number of first-time buyers in the mortgage market in 2023 stood at 290,000, shrinking by a fifth compared with 2022.

The decrease in first-time buyers followed a string of now-paused interest hikes first made by the Bank of England in December 2021, which pushed up borrowing costs, including mortgages.

https://morningstaronline.co.uk/article/first-time-buyers-fall-lowest-level-decade

Continue ReadingFirst-time buyers fall to ‘lowest level in a decade’