Rachel Reeves and Jeremy Hunt on mortgage help for homeowners

Jeremy Hunt has said Labour’s plans to borrow an extra £28bn are inflationary and would put up interest rates, calling them a “mortgage bombshell hidden in plain sight”.

Labour’s shadow chancellor Rachel Reeves said ministers took no responsibility and blamed “anything and anyone else”.

She told the chancellor that he needed to “find a better scapegoat” as they debated the help for mortgage-holders announced on Friday.

Rishi Sunak urges people to hold their nerve on interest rates