How sad - Kwasi Kwarteng’s mortgage has gone up
Get out your smallest violin, Spelthorne MP and self-styled economist Kwasi Kwarteng has admitted that his mortgage repayments have rocketed. In an interview on GB News he said “My bills have gone up considerably.” He revealed that he had a mortgage that tracked UK interest rates, something that an estimated 1.7 million people have. But when asked if he had any responsibility for this, he just blamed the Bank of England.
Why is it that with Conservatives it is always someone else’s fault? After more than 13 years in power they still blame Labour, or the EU or someone else for all our problems.
But most people don’t have tracker mortgages, so there isn’t really a problem, right? Not according to the Office of National Statistics (ONS) who have said “More than 1.4 million households in the UK are facing the prospect of interest rate rises when they renew their fixed rate mortgages in 2023.” The majority of these household had fixed rates of below 2% and are now facing increases of over 100% in their interest rates.
But this is not only an issue for homeowners. Landlords are having to deal with increases in their mortgages and they are not able to just absorb the extra costs, meaning rents are rising very fast. Conservative incompetence is costing everyone who has a mortgage or rents in the UK.
There are no easy answers, but the Conservatives don’t even want to face up to the consequences of their disastrous policies since Brexit. City analysts have said Britain is an international outlier, with there being the suggestion that Britain being subject to a “moron premium” due to the confidence lost in the UK government as the result of the disastrous budget put forward by Kwarteng – Spelthorne’s MP.
Did you know? Spelthorne Conservatives have reselected Kwasi Kwarteng as their candidate at the next election. What would he have to do to be too useless for even the Conservatives to realise he is not the best choice?
Use you vote at the next election to get rid of our clueless MP.