New analysis, based on research from the Bank of England and the ONS, from Northumberland Labour reveals that two years on from theConservative’s disastrous mini-budget – which crashed the British economy and sent interest rates soaring – 14,234 local families have renewed their mortgages onto higher rates.

The analysis comes as Liz Truss told ConservativeParty Conference that she should have been given more time as Prime Minister – to rapturous applause.

Publishing the analysis, Labour’s Shadow Cabinet Member for Corporate services and finance Lynne Grimshaw said,

“Never forget what these Conservatives did to our country, our living standards, or our public services. In the two years since the disastrous mini-budget, thousands of local families have been forced to renew their mortgage on to much higher rates – leaving them hundreds of pounds a month worse off.

“The rapturous applause Liz Truss received at Tory Party Conference this week tells you everything you need to know about what that party has learnt since they crashed the British economy – absolutely nothing. It’s all just a game to them, but for working people in Northumberland this is about being able to make ends meet at the end of the month.

“Labour is fixing the foundations of the British economy to get our country moving again to deliver growth and make working people better off. Change has already begun – but it’s going to take time thanks to the terrible mess the Tories left us in.”