Rachel Reeves, the shadow chancellor for Labor, will say today at the Anthropology conference in Cornwall that another increase in interest rates at noon would hurt businesses, households, and economic growth.
“Rising interest rates will make mortgage payments even more expensive for families who are already struggling.” “There will be more money for businesses.”
She warns that rising costs could make a lot of business owners decide whether or not to keep going.
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Ms. Reeves will also say that “poor growth, low productivity, underinvestment, and rising inequality” make the UK vulnerable to economic shocks and call for a “new spirit of partnership” between the government and business.
