The Financial Times says Mr Hunt will meet with officials from the biggest banks on Friday to “assess the mortgage market and review what additional help they can provide for people struggling with their monthly repayments”, but has ruled out giving direct fiscal support to households. The paper quotes Hunt saying that pumping more money into the economy would push prices even higher and that he “won’t do anything that will prolong the inflationary agony that people are going through”.
Sources suggest the UK has moved past its technical recession with first-quarter growth surpassing that of the US and Eurozone, a positive development for Rishi Sunak.