The reward for taking back control will be an increase in mortgage interest rates

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Martin Sandburg wrote this in the FT yesterday:

in an orderly Brexit, the BoE, facing a high employment rate and probably a boost to growth as well as financial market optimism, would be free to raise interest rates as it sees fit to offset any fiscal expansion that went beyond what the economy could absorb – in turn making a fiscal expansion safer.

So there we have it: the reward for many households from taking back control is that the cost of their mortgages might rise.

People really did vote to be worse off.


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