Stockport Express – July 2023
I was glad to see that Labour secured a parliamentary debate about the urgent issue of the Conservative mortgage penalty on June 27. Across Britain, people are being hit hard by soaring mortgage costs – with 9,800 households in Stockport constituency being £2,600 worse off this year as a result.
This disaster is a product of the Conservatives’ gross mismanagement of our economy. Interest rates have been driven up by Conservative failure to bring inflation down. Their catastrophic mini-budget made things exponentially worse by giving an unfunded tax cut of £45 billion to some of the richest in our society. This triggered market chaos, a fall in the value of the pound, and an increase in the cost of UK borrowing and mortgage costs.
Ordinary households are footing the bill. The Resolution Foundation estimates that 6.5 million households will be affected by the mini-budget, who will have to pay a total of £15.8 billion more in mortgage payments a year by 2026.
With the Conservatives failing to get a grip of inflation, and to provide any real support to households grappling with this crisis, it is clear that change is needed. Labour has set out a five point plan that could ease the Conservative mortgage penalty now by ensuring that struggling mortgage borrowers can access support from lenders. Alongside these emergency measures, Labour has a long-term plan to restore economic stability and lower bills.
The debate and vote on the Kept Animals Bill was another significant event in Parliament in June. I was glad to speak in favour of the bill – which sought to improve animal welfare protections, end smuggling, tackle puppy farms and support the charity zoo sector. Unfortunately, the Conservatives decided to ditch the bill and then vote to block Labour from bringing it back. I will continue to press the government on animal welfare.
June 24 was Armed Forces Day, and it was great to hear of so many events taking place throughout Britain to celebrate our Armed Forces personnel, including in Stockport’s St. Peter’s Square. I spoke in Parliament about issues facing veterans and how the Conservative government must do more to support them. The next Labour government will stand by our troops, veterans and their families. We will boost mental health support, ensure our heroes have good homes and fully incorporate the Armed Forces Covenant into law.
If you live or work in Stockport constituency, please do not hesitate to contact me at navendu.mishra.mp@parliament.uk or 0161 480 0833.
