First-home buyers could be more than £280 worse off each year if Rishi Sunak follows through with his reckless ‘Liz Truss style’ £46bn unfunded tax pledge.

New analysis from the Labour Party shows that an average first-time buyer spends roughly £1,120 in monthly repayments, and they could see monthly payments soar to £1,403 a month in the event of another ‘Truss style’ budget blackhole.

This could see one in seven homes become out-of-reach for first home buyers with many needing to purchase a home with one-fewer bedrooms due to soaring interest rates.

Unlike this failed Tory Government, Labour will not stand by as millions of young families face a mortgage catastrophe made in Downing Street. As the party of home ownership, we will build more homes and get more first time buyers on the housing ladder.