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Higher prices, lower wages and mortgage rates up: The impact of Labour's shocking Budget

The article from Express.co.uk discusses the potential impacts of Labour's proposed budget on mortgage rates and the cost of living in the UK. Labour has promised to invest heavily in public services and infrastructure, which could lead to increased government borrowing. This might put upward pressure on interest rates, potentially increasing mortgage costs for homeowners. Critics argue that this could exacerbate the cost-of-living crisis, as higher interest rates would mean higher monthly repayments for those with variable rate mortgages. Additionally, Labour's plans to raise taxes on certain sectors and possibly on high earners could indirectly affect consumer spending power. However, supporters of Labour's policies believe that the investment in public services and infrastructure could stimulate economic growth, potentially offsetting some of these costs in the long term by improving productivity and reducing public sector inefficiencies.

Read the Full Daily Express Article at:
[ https://www.express.co.uk/finance/personalfinance/1984401/labour-budget-impact-mortgage-cost-of-living ]