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Rachel Reeves ‘£4,800’ mortgage claim is a house of cards

16 June 2024

4:00 PM

16 June 2024

4:00 PM

Labour’s Rachel Reeves has scored some political points this week by claiming that the Conservatives have made £71 billion of ‘unfunded policy pledges’, and that this will ‘mean £4,800 on your mortgage’. These calculations are simply absurd and easy to knock down.

Let us start with the ‘£71 billion’. This figure first appeared in a Labour document, called ‘Conservatives Interest Rate Rise’, published in May.

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