INVERCLYDE'S MP says the UK Government must help households as mortgage rates soar and add hundreds of pounds to monthly outgoings.

Ronnie Cowan says the hike in interest rates can be traced back to the 'disastrous' Liz Truss budget and 'the botched Tory handling of the economy'.

The MP has written to economic secretary to the Treasury Andrew Griffith MP to inform him of the new financial pain being felt by Inverclyde constituents, with the Treasury believing rates are remain high into 2025.

The MP has already held several cost-of-living crisis surgeries and says the household budget crisis is the main issue among constituents contacting his office for help.

Mr Cowan said: "I have asked the government what it is going to do to help mortgage payers.

"People are having to find hundreds of pounds extra each month, just to stand still, when it is already hard to put food on the table or fill up the car.

"Ms Truss wanted to hand tax cuts to the rich, funded by debt, which those on lower incomes would have to pay off at a later date, and this trashing of the economy sent mortgage rates soaring.

"So the UK Government owes it to my constituents to look at how it can help those facing huge mortgage payment rises or rent hikes caused by higher interest rates."