Household Budgets

Part of Oral Answers to Questions — Treasury – in the House of Commons at 10:30 am on 1st March 2007.

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Photo of John Healey John Healey The Financial Secretary to the Treasury 10:30 am, 1st March 2007

My hon. Friend is absolutely right. It is tough to make household finances meet at the best of times, particularly if one has to make mortgage payments on top of other expenses. Clearly, it is very much tougher if interest rates are not at 5.25 per cent., as they are now, but at 10.5 per cent., which they averaged for the entire period in which the Conservative Government were in office.