Jeremy Hunt has admitted that buying a first home in Britain today is a "real struggle" after Sir Howard Davies claimed it was "not that difficult". The boss of NatWest said that people would "have to save more" but suggested the system had simply reverted to how it "used" to be. Housing campaigners criticised his claim while shadow chancellor Rachel Reeves branded Sir Howard "out of touch". When asked about the comment, the Chancellor referenced the much higher mortgage rates compared to 18 months ago. He said: "We know that makes it a real struggle for people trying to buy their first home." He insisted the way to deal with the problem was to continue to focus on cutting inflation.
The Independent (06/01/2024)