Photo by Mortgage Holders Deserve Better: Starmer’s Promise of Economic Stability
Prime Minister Sir Keir Starmer has pledged to bring down the “punishing” mortgage costs that are crippling households across the UK. The PM attributes the high rates to the economic chaos of the Tory era, and promises that his government will take action to restore economic stability and alleviate the pain felt by mortgage holders.
The struggle for affordable housing is a pressing concern for many UK residents.
Speaking about the issue, Starmer said: “We need to stabilise the economy for a secondary reason, and that is to attract investment in. That will only come if there is a stable economic environment.”
The Prime Minister highlighted the struggles faced by households, including those with two earners who are struggling to keep up with mortgage payments. “They are punishing people,” he said. “I mean, people coming off fixed-rate mortgages are almost invariably having to pay hundreds of pounds more per month.”
Mortgage payments have become a significant burden for many homeowners.
Starmer stated that his government has “doubled down” on the need to restore order to the economy, which he believes is essential to bring down mortgage rates and attract investment to the UK. “That is why we said before the election - and we’ve doubled down on it now - economic stability is the first step when it comes to growth of our economy,” he said.
The PM’s promise of economic stability is a welcome development for those struggling to make ends meet. As the UK continues to navigate the challenges of the post-pandemic economy, it is essential that the government takes proactive steps to support households and businesses alike.
A stable economy is essential for growth and development.
With mortgage rates at an all-time high, the government must take swift action to address the issue. Starmer’s promise of economic stability is a step in the right direction, but it remains to be seen how effectively his government will implement policies to support struggling households.
