Jeremy Hunt on interest rate rise and Bank of England forecasts

The government is "taking the difficult decisions" to bring down the UK’s debt, the chancellor has said.

After the Bank of England raised interest rates from 2.25% to 3%, Jeremy Hunt said the "best single thing we can do" is to help the Bank bring down inflation.

He added: “We are doing the same things that we are asking families to do, up and down the country."

Liove page: Interest rate rises to 3% - the biggest hike in decades