Following the Bank of England increasing interest rates, a mortgage crisis is looming. A week on, at Prime Minister's Questions, Sir Keir Starmer is appealing to the traditional "red wall" seats, saying Labour is now the party of homeownership.

Liam quickly points out that while inflation is a global phenomenon, the political costs for the Conservatives could be 'catastrophic'. Allison agrees, reckoning Labour will lose the red wall seats won by Boris Johnson in 2019. 

With Labour calling the rise in interest rates a 'Tory Mortgage Bombshell', how is the Bank of England going to slow inflation by the end of the year?

Also boarding the rocket of right thinking this week is Conservative MP for Wokingham, John Redwood, to discuss where he thinks the Bank of England has made tough decisions in difficult circumstances and what can be done to steady the economy.

Read more from Liam: https://www.telegraph.co.uk/authors/liam-halligan/ |

Read more from Allison: https://www.telegraph.co.uk/authors/a/ak-ao/allison-pearson/ |

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