Wealthy people who own home outright will avoid higher costs and benefit from better return on savings

Homeowners with mortgages will be among the biggest losers from the cost of living crisis in 2023 due to interest rate rises, while the wealthiest UK households will benefit from better returns on savings and investments, according to analysis by a leading thinktank.

The Resolution Foundation said the way the government had tackled the spike in inflation this year – relying heavily on the Bank of England’s interest rate rises – put “mortgage households at the heart of the Britain’s income squeeze”.

Continue reading…

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Zelenskiy hails Ukraine territorial gains in surprise north-east counteroffensive

President claims thousands of square kilometres of ground have been retaken as…

P&O Ferries may not regret breaking law, but the UK should regret dealing with its owner | Nils Pratley

Dubai’s DP World has proved itself an unfit partner for Britain’s freeport…

Nurses fail to vote in sufficient numbers for fresh strikes in England

Less than 50% of RCN members voted in ballot, falling short of…

To win back working people, Labour should learn from Joe Biden | Jonathan Freedland

The US president has found the one thing divided parties of the…