Labour would not back subsidising mortgage holders, Starmer says

Leader says there is no quick fix and there are problems with approach advocated by Lib Dems

Keir Starmer has said he would not support subsidising mortgage holders to spare them the pain of rising interest rates, as the Bank of England pushed its base rate up by 0.5 percentage points to 5%.

The Labour leadersaid there were problems" with the approach advocated by some, including the Liberal Democrat leader, Ed Davey, who has called for a 3bn support scheme to help vulnerable borrowers.