8 June 2023 – today’s press releases

  • Sunak should put Johnson’s honours list through the shredder
  • Teacher stats expose recruitment and retention crisis
  • £41 million remortgage bombshell predicted for June amid “summer from hell” warning

Sunak should put Johnson’s honours list through the shredder

Responding to the news that Rishi Sunak is set to accept Boris Johnson’s honours list, Liberal Democrat Deputy Leader Daisy Cooper MP said:

The fact that one of the most scandal-ridden Prime Ministers is now allowed to stuff his cronies in the Lords after a failed premiership tells the British public everything they need to know about this Conservative Party.

Boris Johnson caused crisis after crisis in this country – if Rishi Sunak rewards his failure it’s just proof it is one rule for the Conservatives and another for everyone else. The buck stops with Sunak – he must ensure that Johnson’s honours list is put through the shredder.

Teacher stats expose recruitment and retention crisis

New statistics released today from the Department for Education have shown:

  • More than 100,000 under-40s have quit teaching in the last 5 years.
  • A third of teachers quit within 5 years of qualifying.
  • The number of teaching vacancies has more than doubled in the last 2 years.
  • 22% of maths teachers and 42% of physics teachers have no relevant post-A-level qualification.

Responding to the new school workforce statistics, published today by the Department for Education, Liberal Democrat Education Spokesperson Munira Wilson said:

These alarming figures show how badly the Conservatives are letting our children down.

They are missing their own recruitment targets and driving tens of thousands of young teachers out of the profession, leaving millions of children to be taught by someone who isn’t an expert in their subject.

The Conservatives have neglected our children and young people for far too long. Every child deserves the chance to flourish, and that means investing in great schools and teachers.

£41 million remortgage bombshell predicted for June amid “summer from hell” warning

  • 3,900 people a day are hit with eye-watering remortgaging costs.
  • Homeowners in some regions are facing an average increase of £615 compared to 2019 in mortgage costs as rates spiral.
  • Liberal Democrats call for an emergency Mortgage Protection Fund to stop families losing their homes amid warnings of “summer of hell”.

New analysis by the Liberal Democrats has found Britain is facing a £41 million remortgage bombshell this month. The party is demanding the Government take urgent action to stop people losing their homes.

House of Commons Library research commissioned by the Liberal Democrats revealed homeowners remortgaging this month will see monthly payments that are £356 higher compared to 2019, on average.

With the Financial Conduct Authority announcing 116,000 households are coming off their fixed-rate deals this month, it means Britain is about to get hit with an astronomical remortgaging bill worth tens of millions of pounds.

The pain of remortgaging is being felt hardest in London and The South. The House of Commons Library estimates a typical household in London which is about to remortgage will see their monthly payments rise by £615 compared to four years ago. Meanwhile, households in the South East will have their monthly mortgage payments rise by £448.

Overall, the average monthly mortgage payment will be 38% higher compared to 2019 for those remortgaging.

The Liberal Democrats are demanding the Government brings in a fund to help young families unable to afford the rise in mortgage payments and struggling to avoid being repossessed. Under the proposals, those who have seen their mortgage payments increase by more than 10% of their income could apply for grants of up to £300 a month to help cover the cost of the rise.

Liberal Democrat Treasury spokesperson Sarah Olney MP said:

Families are facing a summer of hell as they scramble to find hundreds of pounds more each month. The Government needs to pull homeowners away from the mortgage cliffedge before it’s too late.

The Chancellor needs to act right now or else people are going to lose their homes. It is unthinkable that the Government is just going to sit on their hands whilst people face these remortgaging costs.

Gross economic mismanagement has led to this point. From botched budgets to out of control inflation, is it just one economic calamity after another with this Conservative party.

Families need bailing out from this mortgage disaster. The Government has made this mess, now they need to clean it up.

Read more by or more about , , , , , or .
This entry was posted in News and Press releases.
Advert

6 Comments

  • Peter Martin 9th Jun '23 - 9:29am

    “£41 million remortgage bombshell predicted for June…………….3,900 people a day are hit with eye-watering remortgaging costs.”

    Why would anyone expect anything different now that monetary policy, essentially the raising of interest rates by the BoE, is seen as the primary method of combatting inflation?

    And who was it who supported the decision to hand over monetary policy to a undemocratically controlled BoE in 1997?

    The blame for our present huge problem is partly down to the Tory Party but not entirely. No major party is proposing any meaningful change to the present dysfunctional system.

  • >” 116,000 households are coming off their fixed-rate deals this month”
    Why should I care?
    In a market with rising interest rates It was always the risk with fixed-rate deals that people would see a large step change in payments once the deal ended.

    Many more are on variable rate mortgages and have already been paying the rate increases. So it isn’t just those on fixed-rate deals that are at risk…

    “Young families” I assume this means families in receipt of child benefit ie. Have Children under 18.

  • George Thomas 9th Jun '23 - 7:24pm

    “The fact that one of the most scandal-ridden Prime Ministers is now allowed to stuff his cronies in the Lords after a failed premiership tells the British public everything they need to know about this Conservative Party.”

    Err, Boris Johnson could have been the best PM the UK has ever seen and it would still be a scandal that he stuffs his cronies in the House of Lords.

  • Peter Martin 10th Jun '23 - 7:44am

    @ Roland,

    You ask ”Why should I care?”

    Even those who lack empathy for others do nearly always have a their own self interest at heart. The 2008 global crash followed a series of interest rises by the US Fed with many other central banks including the BoE following suit. This type of monetarist control only works by turning an excessive amount of private debt into an excessive amount of bad private debt. Once this reaches a certain level we see an avalanche effect which has the potential to bring down major banks and even the financial system itself.

    Governments then have to bail it out as we saw in years following the GFC. We were nearly all adversely affected. Were you an exception? Would you like to go through all that again?

  • Helen Dudden 10th Jun '23 - 10:46am

    The way politics works is outdated. This was highlighted by the previous Prime Minister and the way a very unsatisfactory policy failed badly costing a vast loss.

  • @Peter – my question wasn’t a lack of empathy, but as I intimated, why should I care more about this group (and thus champion alleviations for them) than the (larger) group who are on variable rate mortgages.

    As for the conversion of debt into bad debt, wholly agree, hence one the reasons why I believe the BoEs Monetary Committee is composed of charlatans, as why would they be increasing interest rates when it is plainly obvious the cause of inflation is beyond the BoEs control?

Post a Comment

Lib Dem Voice welcomes comments from everyone but we ask you to be polite, to be on topic and to be who you say you are. You can read our comments policy in full here. Please respect it and all readers of the site.

To have your photo next to your comment please signup your email address with Gravatar.

Your email is never published. Required fields are marked *

*
*
Please complete the name of this site, Liberal Democrat ...?

Advert



Recent Comments

  • Peter Martin
    The 'country before party' argument is trite to put it mildly. When the young Keir Starmer first joined the Labour Party he would have considered that the p...
  • Thelma Davies
    As pointed out , family is the most important driver of outcomes. Sadly too many on the left refuse to look at the evidence and confront hard truths....
  • Tom Harney
    There is a high correlation between poverty - measured by registration for free school meals - and exam results at 16. The reason for choosing these measures is...
  • David Evans
    The one thing that unites both Labour and Conservative is the pretense that there is a "Special Relationship" between the British Government and that in the US....
  • David Garlick
    It is beyond question that prevention is better, and cheaper, than cure. If we get that and start looking after our young families now it can be productive rel...