David Davies claim Liz Truss’s economic plans will spark interest rate hike

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FORMER Brexit secretary David Davis has attacked the economic plans of Liz Truss, claiming that they will drive up people’s mortgage payments.

He told GB News: “The issues we’re talking about here are huge. I mean, the next Prime Minister is going to face some of the most difficult crises, possibly in a century.

“We’ve already got the difficulties with energy, with Ukraine, with the economy, health service issues coming up, and other crises we can’t foresee…

“He (Rishi Sunak) had been attacked for intervening, but he was pointing out a simple fact, that if, if we follow Liz’s plan, then what will happen according to her own economist, is that interest rates, the base rate will go up to 7%.

“That means mortgage rates, commercial rates of eight, nine, ten percent, four times as high as they are now.

“Now, that’s really serious. I’ve got children who have mortgages, I worry about what and how they’ll get by, I’m going to have to support them myself, I suspect at the end of the day…”

Mr Davis was speaking during an interview on Breakfast with Eamonn Holmes and Isabel Webster on GB News.

Addressing criticism of Mr Sunak for repeatedly speaking over Ms Truss during last night’s leadership debate, he said: “Whoever wins this contest is going to have to stand at the despatch box in the House of Commons and deal with the House of Commons.

“I’ve done that and it’s very fierce. It’s very hard exchanges, if you can’t cope with that then you won’t make a decent Prime Minister and Margaret Thatcher wouldn’t have complained.

“I mean, both candidates would compare themselves to Margaret Thatcher. I knew Margaret Thatcher and she would never have complained about being intervened on because she would have had the answer but last night, Liz truss did not have the answers.

“Frankly, she didn’t have the answer to Rishi. She didn’t have the answer…about her central borrowing strategy. She just didn’t understand her own strategy.

“I’m afraid you’ve got to be able to deal with this in a debate – when I debated David Cameron I was much fiercer on him than Rishi was last night.

“Nobody complained about that, nobody accused me of being improper or rude. They said actually, the points were important, and the points were important last night: thousands upon thousands upon thousands of pounds on people’s mortgage costs are massively important and they need to be known about so Rishi was right there I’m afraid.”

Asked about polls showing Liz Truss leading the Tory leadership race, he said: “It’s early days at the moment. I mean, polls are indicative, but they’re not certain and things change. And one of the reasons I think the Conservative Party members will turn towards Rishi is the fact he’s clearly in command of his brief.

“I’ve seen a lot of these contests down the years, what we often do is appoint a leader, not just us the Labour Party too, for one crisis and then be defeated by the next crisis…

“They’ve got to be tough, brave, courageous, they’ve got to have consistency of principle, and they’ve got to have intellectual capacity.

“And on those counts, I think Rishi wins this and I think that will come across in the debates – people will see he is in command.”