Member

I refer to the comments from the noble Lord, Lord Marlesford, about the dangers of using interest rates, inflation and metrics such as that. When I bought my first house, interest rates went up from 7% to 21% in 18 months—that was a bit of a killer for the family budget. I remind the noble Lord, Lord Jamieson, that the disastrous Liz Truss Budget increased inflation to 11%, and she was Prime Minister for only a few weeks. We have to be very careful using those types of metrics.