By Clive Jones
In my last campaign column, I mentioned that I would be playing in a charity golf day to support a local charity, Sport in Mind, and that I had been gathering some bottles of whisky signed by the Prime Minister and other former PMs to use in the auction which followed the fund-raising.
It was a great success with over £14,000 being raised for Sport in Mind and, despite not having much time to play golf these days, I did manage a reasonable score on the day.
I am continuing to speak with residents across the new Wokingham Parliamentary constituency. Most recently I have been out in Wargrave, Charvil, Finchampstead and different parts of Wokingham Town. The biggest issue that is being raised is the continuing cost of living crisis and the increases in mortgage costs.
Mortgage misery for many in Wokingham
Mortgage rates have reached their highest levels for 15 years, surpassing the peak in the aftermath of the disastrous Liz Truss/Kwarteng budget supported by our MP John Redwood.
The average mortgage renewal in Wokingham is increasing by around £500 a month, or £6,000 a year. This will affect about 14,700 households in Wokingham in the next 12 months.
Even where people can afford this increase, that money is lost our local businesses/traders and retailers, adding to their pressures.
Liberal Democrats are calling on the government to take urgent action to prevent people losing their homes as they come to the end of fixed term deals. We want support for those whose mortgage payments increase by more than 10% of their income, up to £300 a month, to help with the cost of the rise. This would be a big help to our residents and help keep money in the local economy.
Additionally, many people in Wokingham are seeing their rents increased by landlords who are themselves facing higher mortgage costs and are passing on these increases to their renters.
Inflation is still high
Inflation remains stubbornly high at 7.8%, causing problems for all households and local businesses. The government blames global factors for inflation. However, inflation in the US is nearer 3% and in Germany its nearer to 6%, both much lower than the UK. We are paying a premium for the mismanagement of our economy by the government.
For many households, real inflation is much higher, with food price inflation remains high at nearly 14%, on top of the almost 20% for much of the last year, again higher than other countries.
Residents tell me they are concerned about food prices, and some are struggling to feed their families. With huge increases in food prices, energy costs and now in mortgages as well, more and more residents tell us they are having to make impossible choices of what to do with their money.
Bank and Energy company profits
Not everyone is suffering though. Increasing interest rates are boosting the profits of our major banks, profits they have done little to earn. I believe we should tax this unearned income and use the proceeds used to help people with the cost-of-living crisis and relieve the tax burden on lower incomes. The Conservative government, in contrast, is giving tax breaks to the banks of £3 billion.
British Gas has announced profits of £969m, up from £98m, and paid £450m of this to their shareholders. They are making huge profits from global price fluctuations whilst customers struggle to pay their bills. Liberal Democrats were the first party to call for windfall taxation on energy companies, well before Labour and the Conservatives (half-heartedly) adopted the idea. The need for this hasn’t gone away.
Royal Berkshire hospital
The promise of a new Royal Berkshire hospital by 2030, made by the Conservatives when seeking your vote in 2019, looks likely to become a broken one. The project is stalled, and delivery of the new hospital is likely to be some way after 2030, if at all. I know this concerns residents and the thousands of dedicated staff who work at the hospital, who deserve and need a modern, efficient facility. We need to invest in our NHS for the future, both in facilities and staff.
Make this John Redwood’s last election.
In our conversations, residents understand that their clear choice for Wokingham’s next MP is between me and John Redwood. They want an MP who stands up for them on the national stage and think it is time for change. Labour supporters are telling me that they will lend me their support, to make sure they avoid another five years with a Conservative MP.
Thank you for reading this article. I would be interested to know what you think of what I have said. You can contact me on the email address below or contact any of the Lib Dem team of local councillors whose address you can find through your local council website.
We work for every community and everyone who lives or works in Wokingham Borough.
Cllr Clive Jones is the Liberal Democrat Parliamentary Candidate for Wokingham and former Lib Dem Leader of Wokingham Borough Council [email protected]
