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Higher prices, lower wages and mortgage rates up: The impact of Labour's shocking Budget

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. s-up-the-impact-of-labour-s-shocking-budget.html
  Print publication without navigation Published in Business and Finance on by Bill Williamson
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Chancellor Rachel Reeves' ambitious spending and borrowing plans outlined in the autumn Budget are expected to slow the decline in UK interest rates and push inflation higher than previously forecast over the next two years,
The article from Express.co.uk discusses the potential impacts of Labour's proposed budget on mortgage rates and the cost of living in the UK. Labour has promised to invest heavily in public services and infrastructure, which could lead to increased government borrowing. This might put upward pressure on interest rates, potentially increasing mortgage costs for homeowners. Critics argue that this could exacerbate the cost-of-living crisis, as higher interest rates would mean higher monthly repayments for those with variable rate mortgages. Additionally, Labour's plans to raise taxes on certain sectors and possibly on high earners could indirectly affect consumer spending power. However, supporters of Labour's policies believe that the investment in public services and infrastructure could stimulate economic growth, potentially offsetting some of these costs in the long term by improving productivity and reducing public sector inefficiencies.

Read the Full Daily Express Article at:
[ https://www.express.co.uk/finance/personalfinance/1984401/labour-budget-impact-mortgage-cost-of-living ]


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