Borrowers face a mortgage rise of £252 per year on average if interest rates begin to rise a report by the Centre for Economic and Business Research (Cebr) has forecast.
The UK unemployment rate has dropped to 7.1%, with 2.32 million people out of work according to the latest figures by the Office of National Statistics
The Bank of England has confirmed that they plan to introduce polymer banknotes in 2016.
The new Bank of England governor Mark Carney has said that he would not consider raising interest rates until the number of people unemployed in the UK falls below 7%.
Political economist Hugo Radice is a Life Fellow at the School of Politics and International Studies at the University of Leeds. He spoke to NLP’s Alex Doherty on the decline in confidence in the coalition’s economic policy.