The Prime Minister facing a vote of no confidence in the handling of the cost-of-living crisis
Rishi Sunak has become one of the most unpopular Prime Ministers not just with the voter but within his own party. Now it seems, Rishi Sunak could be fighting for his political career like Boris Johnson did over Partygate.
With interest rates hitting 5%, some Conservative MPs are now fed up with how Jeremy Hunt and Rishi Sunak are dealing with the cost-of-living crisis. Some MPs fear that when it comes to the next election their seats will be lost unless the Prime Minister and Jeremy Hunt resign.
With the Bank of England hiking interest rates to 5%, millions of homeowners are going to struggle to pay their mortgages and keep their homes from being reprocessed. This week we reported that families in Skegness, Manchester, Liverpool, Boston, Grimsby, Morecombe, Lincoln, and Grimsby were struggling to keep on top of their mortgages. The latest hike by the Bank Of England will only cause more problems for those struggling.
Last month more than 700,000 homeowners failed to pay their mortgages, with the new interest hike some fear that next month more than one million people could fail to meet their payments. Financial experts have already warned that millions of people could see their homes reprocessed if the Government doesn’t step in. However, Jeremy Hunt has made it clear that neither he nor the Government will provide financial assistance to those struggling.
While some Conservative MPs who are not happy with the way Rishi Sunak is handling the cost-of-living crisis to stand down, the Prime Minister is calling on panicking MPs to stand firm.
Rishi Sunak posted a lengthy Twitter thread this morning saying the government needs to ‘hold our nerve’, while Chancellor Jeremy Hunt gave strong backing to the Bank of England, saying controlling prices is the ‘only long-term way to relieve pressure on families with mortgages’.
A spokesman for the Prime Minister said: ‘The Prime Minister thinks is important that we continue to support the Bank in the work they are doing.
‘You’re aware that there’s an independent process for setting interest rates, and we continue to work closely with them and work well with them to bring down inflation.’
Mortgage experts have said first-time buyers are now put off from purchasing a property while financial experts have predicted that the Interest rate could hit 6% by Christmas.
Keir Starmer warned that ‘next month it’s going to feel a lot worse’ for millions of homeowners. However, even though Keir Starmer has hit out at the Prime Minister over the Interest Rate problem, many Labour voters are not impressed.
Mark Scott from Liverpool wants to know why Labour is not calling for a no-confidence vote in the Prime Minister, while Sarah from Grimsby, Mary from Manchester, and Luke from Skegness agree.
Mark Scott said: “We are struggling to pay our mortgages. With high food prices and Interest rates rising, we are struggling on a day-to-day basis. I want to know why Keir Starmer is not demanding a vote of no confidence in the Prime Minister.”
It is not just the Prime Minister who is coming under fire. MP for Grimsby Lia Nici has come under fire for not calling for a vote of no confidence in the Prime Minister. She is not the only Conservative MP who has annoyed her voters by keeping quiet. The MP for Boston and Skegness Matt Warman has also rattled the people who voted for him.
Conservative MPs who are worried about the Prime Minister’s handling of the cost-of-living crisis are already considering sending a letter of no-confidence. A Conservative MP who we spoke to today over the Interest Rate crisis has said MPs will be in two minds if to send in a letter of no confidence.
He said: “We understand that people are struggling, and I am personally disgusted with how the Prime Minister is dealing with the situation. MPs are worried that they will lose their seat at the next general election. The problem we have is, if we get rid of Rishi Sunak, then we could damage the Conservative Party’s reputation even further and risk the chance of winning the next general election. But if he stays, then we risk losing the next general election. Many of us are confused about what to do.”
If the interest rates continue to rise and if the Prime Minister fails to act, then this country could see its biggest homeless problem in history.
