Why Rishi Sunak’s ‘big state, high tax’ budget could send mortgage rates soaring

Homeowners may pay thousands of pounds more as lenders begin raising rates

Rishi Sunak during a visit to a brewery in Bermondsey, London
(Image credit: Dan Kitwood/Pool/AFP via Getty Images)

Mortgage rates could be sent soaring as lenders respond to Rishi Sunak’s autumn budget, analysts have warned.

The chancellor’s “big state, high tax” spending package received a “lukewarm reception” from Conservative grandees, The Guardian said, who “put him on notice that they would not put up” with “the scale of spending and taxes” for long.

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