Hunt Rejects Mortgage Bills and Food Price Caps, Plans to Meet with Lenders

Jeremy Hunt, the Chancellor of the Exchequer, has ruled out supporting mortgage bills, citing concerns that it would increase inflation.

He also rejected the idea of capping food prices, stating that it is not the right long-term solution.

Hunt plans to meet with mortgage lenders to discuss ways to help those struggling with expensive mortgages, instead.

The Bank of England is expected to hike its base interest rate to bring down inflation, which is currently at a 30-year high.

Mortgage providers have already increased their interest rates, and the average two-year deal now stands at 6.01%.