Tory MPs split on whether to intervene to help mortgage holders

Figures released on Wednesday expected to confirm UK stuck with highest inflation rate in G7

Conservative MPs are increasingly split over whether ministers should intervene to defuse Britain's mortgage timebomb, as the Bank of England prepares to raise interest rates for a 13th consecutive time.

In a crunch week for the economy, official figures on Wednesday morning are expected to confirm the UK remains stuck with the highest level of inflation in the G7, as the cost of living crisis continues to squeeze household budgets.