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Darren asks the Government how they are planning for Interest Rate rises

Any increase in mortgage rates will affect the housing costs of millions.

Darren asked the Treasury:

What discussions he has had with Cabinet colleagues on the potential effect of an increase in the bank rate on the number of households subject to eviction?

Stephen Barclay MP, Economic Secretary to The Treasury

 

As was the case with previous administrations, it is not the Treasury’s practice to provide details of these discussions.

The Financial Conduct Authority has put in place regulations protecting borrowers, including a requirement that lenders should deal fairly with customers in payment difficulties. Lenders are also required to conduct an interest-rate ‘stress-test’ on all new mortgages. The insures against the risk of a significant increase in the number of indebted households in the case of an interest rates rise.

This would affect the housing costs of thousands of Bristol households. That’s why we need to know what the government are doing about this, and why it’s so frustrating that they won’t tell me when I asked.

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Austerity and Public Services

I have been encouraged by how many constituents are actively engaged in the Bristol City Council Your Neighbourhood Consultation . Local events have been well attended with passionate views shared on the need to provide services that support residents across the city. The council needs to save £4.7million over the next three years, due to severe and ongoing cuts from central Government and the council’s legal requirement to set a balanced budget. The current proposals, which asked for views on libraries, school crossings, public toilets, Community Links and Neighbourhood Partnerships is of real concern to all of us. We all know the huge benefits that community facilities have, libraries in particular, in giving children and families access to learning and providing safe and free spaces for people of all ages to use and enjoy. I am also aware of the rising threat of social isolation and the role libraries have in supporting the most vulnerable in our communities. At the time of writing, I’m organising a libraries conference for representatives from each library in the area, alongside local campaign groups, to contribute to my own submission to the consultation. I am keen that as a group we work together to get the best deal for communities right across Bristol North West.

But it’s not just council services under threat. Southmead hospital, GP surgeries, children’s centres, schools, community and advice centres and so many more are crippling under the stress of Government cuts to public services. I’m busy meeting as many people and organisations as I can to see first-hand what this means to local people, and I’ll be raising this loudly in Parliament after Recess.

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Darren calls on Housing Secretary to build more Council Houses in Bristol

Darren has called on the Secretary of State for Communities and Local Government to build more council houses in Bristol. Read more