Tory chaos will leave mortgage holders here struggling as interest rates rise - Derry MLA

Speaking after the Bank of England confirmed that interest rates will rise to 3%, the Foyle MLA said:

“Because of the economic chaos unleashed by the Tories, there has been the single biggest hike in interest rates in three decades.

“It’s a scandal that ordinary workers and families will now pay the price as mortgage payments go up and people struggle to keep a roof over their heads.

“Our future generations also face being frozen out of owning their own home because mortgages will be unattainable and mortgage payments will simply be unaffordable.”

Mr Delargy accused the Conservative Party of ignoring “the disastrous ramifications for households”.

“The £400 energy payment that was promised to people months ago and held up because of the DUP’s cruel boycott of the Executive, must be paid now with no more delays.”

“We need investment in our public services, support for public sector workers and immediate help to ensure the most vulnerable survive through the winter months.

“Energy companies and shareholders are walking off with bundles of cash and profits in the billions. It’s time to bring them down a peg through a Windfall Tax and redirect the money into the pockets of hardworking families.”