In a session of oral Parliamentary questions to the Treasury, local Member of Parliament Steve Brine stressed the importance of installing market confidence to the Chancellor.
During the exchange Mr Brine relayed concerns from his constituents in Winchester and Chandler's Ford that "they’re not convinced that the stamp duty reduction will help first-time buyers while inflation, in particularly mortgage rates, are creeping up."
Going on to ask the Chancellor, Kwasi Kwarteng MP; "When he delivers his statement on 31st October will he ensure that it has confidence at its heart and, knowing him it will be this, a relentlessly positive statement, so we can push confidence right the way through the market?"
Following the previously announced 'mini-budget' the Chancellor's financial statement was due later in November, but due to a reaction of uncertainty in the markets, the statement has been moved up.
Mr Kwarteng responded to the Hampshire MP saying; "It will be relentlessly upbeat, they are challenging times, but we've got to live within our means and there will be an absolute iron commitment to fiscal responsibility."
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