Tories no longer ‘the party of homeowners’, says Davey

Liberal Democrat leader Sir Ed Davey will step up calls for an immediate general election, accusing the Conservatives of unleashing “chaos” on the economy.

In a keynote address on Sunday, Sir Ed will say that after the turmoil of past weeks – with many families facing crippling increases in mortgage repayments – the Tories can never again claim to be “the party of homeowners”.

He will call for the creation of a £3 billion mortgage protection fund – paid for by reversing cuts to the bank levy and bank surcharge – to assist families facing crippling increases in their repayments.

Under the Lib Dem proposal, homeowners who see their repayments increase by more than 10% of their income would be able apply for grants of up to £300 a month to help cover the costs.

In his speech, Sir Ed will say: “Just look at the damage the Conservatives are doing to our country. Billions of pounds extra on the national debt. Inflation through the roof and exports through the floor. And a mortgage crisis, with people’s monthly payments up by hundreds of pounds.

“Never again can the Conservatives claim to be the party of homeowners, the party of business or the party that balances the books. The Conservatives are the party of chaos.”

Sir Ed is delivering his “autumn speech” after the party was forced to cancel its set piece annual conference in September due to national mourning following the death of the Queen.

With the Government preparing a package of tax rises and spending cuts to address an estimated £50 billion black hole in the public finances, he will say voters are having to pay to clear up the problems the Tories created.

“After inflicting so much chaos and damage, the Conservatives want the rest of us to pay to clear up their mess. They’re like bank robbers asking for a loan to buy the getaway car,” he will say.

He will say that it is “obvious” the country needs a general election and will accuse Rishi Sunak of refusing to go to the country because he knows the Conservatives would lose.

While support in the opinion polls for the Lib Dems has dipped in recent weeks – with voters switching straight to Labour in the wake of Liz Truss’s disastrous mini-budget – he will say the party still has an important role to play in ousting the Tories.

“At that election, millions of voters will be asking a simple question: ‘How do we get rid of our awful Conservative MP? We’ve shown time and again, that’s something the Liberal Democrats are pretty good at,” he will say.