Delay in spelling out the goverment’s tax-and-spend plans could pile hundreds of pounds onto millions of people’s housing costs by making higher interest rates more likely, a senior Conservative MP has warned chancellor Kwasi Kwarteng.
The chair of the Commons Treasury Committee, Mel Stride, urged the chancellor to bring forward the 23 November statement on his medium-term fiscal plan - along with the OBR watchdog’s judgement on it - so that the Bank of England has time to assess market reaction before its next rate-setting meeting on 3 November.
