Umunna – Interest rate rise shows Brexit is already damaging our economy

Commenting on the Bank of England’s decision to raise interest rates to 0.5%, Chuka Umunna MP, leading supporter of Open Britain, said:

“This news is bad news for mortgage-holders and small businesses up and down the country, and is a reflection of how Brexit is already damaging our economy.

“The Bank of England has had to act to raise interest rates to deal with the spike in inflation caused by the Brexit vote. Now ordinary working people are facing higher prices, stagnating wages and falling growth.

“Nobody voted to become poorer, and voters have every right to compare the reality of the Brexit squeeze with what was promised by Leave campaigners.”

/ends