Why cutting interest rates will be no panacea for the Tories
There are some Tories who think an interest rate cut will help them in the polls as mortgage costs come down yet this polling points to the exact opposite happening, I think there’s a couple of things driving this.
Firstly if mortgage costs do come down a bit they will still be substantially higher than when the perpetuator of an antisemitic trope Liz Truss became Prime Minister so the financial hurt is still real.
Secondly as we can see with the age splits, the elderly in particular, rely on interest from their savings, so an interest rate cut is a hit to their income, given the profile of the current Tory voter, that will be damaging for the Tories.
TSE