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Mortgage rates would soar under Labour

Sam Cordon

August 1, 2013

In a speech to the Policy Exchange thinktank Grant Shapps claimed that a Labour government would quickly increase Britain’s budget deficit and raise mortgage rates.

He said: “Since Labour have already committed to billions more in unfunded spending this year alone borrowing would rocket, the deficit would increase and mortgage rates would soar.”

The former housing minister also slammed Labour for its negative outlook.

He said: “In every case it’s almost as if they’ve been willing the country to fail.

“You could almost see the palpable sense of disappointment for Ed Balls just last week through gritted teeth he acknowledged stronger growth.

“While we’ve been working to get Britain back on track, Labour have been on the wrong side of every argument.

“They said there’d been a double-dip recession. There wasn’t. They said the private sector wouldn’t create jobs, meaning a million more unemployed by now. They were wrong; private sector employment is at an all-time high.”

The aggressive attack comes amid signs the Conservative’s are increasingly slashing Labour’s lead in the polls.

A ComRes poll released today showed that Labour’s lead over the Conservative’s has halved to three points in the past month, its lowest since October last year.


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