Shadow chancellor then says lenders should offer term extensions or interest only mortgages. What horrid ideas, tread water or pass you mortgage debt onto your grandchildren. Seen similar things offered in Japan and Canada.
Discussion
In the legacy system even with all the interest rate rises your are lucky to get about 2% interest which with all the inflation is about -8%. Because we have got so used to the low interest rate it's like screwing all the borrower's without actually relieving much pain for the savers.
Exit fiat.