Liz Truss denies responsibility for mortgage rate turmoil post-mini-Budget – The Intermediary
Liz Truss, the former Prime Minister, has rebuffed allegations that her policies were to blame for the mortgage rate upheaval experienced by millions of homeowners after her 2022 mini-Budget.
In a Sky News interview on Sunday, Truss deflected responsibility and pointed to global economic trends and actions by the Bank of England as the factors exacerbating the situation.
“I question the premise of what you’re asking me, because mortgage rates have gone up across the world,” Truss stated.
She alluded to challenges during her tenure, asserting: “The issues that I faced in office, were issues of not being able to deliver the agenda because of a deep resistance within the establishment.”
Truss further distanced herself from the fallout affecting homeowners: “I think it’s wrong to suggest that I’m responsible for British people paying higher mortgages. That is something that has happened in every country in the free world.”
Acknowledging that her administration’s communication could have been improved, she maintained that her policies were not at fault: “I’m not saying that I got everything absolutely perfect in the way the policy was communicated.
“But what I am saying is I faced real resistance and actions by the Bank of England that undermined my policy and created problems in the market.”
