Tory MPs have voiced fears soaring mortgage rates could cost the party at the next general election, as they urged the Government to roll out measures to support struggling households poppyeh looks at what the Prime Minister could do to help
, rather than leaving the Bank to raise interest rates again, which ultimately hurts workers.
However, any move to raise taxes among the wealthy would likely stoke furious backlash from Tory MPs, who have pushed for tax cuts rather than rises beforePositive Money, an advocacy group with more than 50,000 supporters, has instead called for a windfall tax on banking profits, in a similar move to the levy imposed on oil and gas firms following the spike in energy prices.
They were pictured on Threadneedle Street holding balloons which spelt out the almost £30bn pre-tax profit made between Lloyds, Barclays, NatWest and HSBC last year, buoyed by rising interest rates.
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