Chris Leslie MP, Labour’s Shadow Chief Secretary to the Treasury, responding to aides to the Chancellor saying that rising interest rates would be “a sign of success”, said:

“David Cameron and George Osborne used to say that low interest rates were a sign that their policies were working. Now they are desperately trying to claim rising interest rates would be a sign of success.

"At a time when real wages are falling ordinary families won’t be as relaxed as the Chancellor about the prospect of interest rates going up.”