Glasgow reacts: Sunak ‘has lost touch with interest rates’.

The Prime Minister said there was “no alternative” to fighting to bring down inflation, which stagnated at 8.7% in the year to May.

Following his comment on Sunday, he was accused of being “no contact” and people we spoke to in Glasgow agree with labels about “vanity” given to Rishi Sunak after a BBC interview.

Yesterday he seemed to shrug off the challenges facing public sector workers and rising mortgage prices.

In response to the comments, people on Buchanan Street Monday, many of whom are feeling the impact of rising living costs themselves, said they viewed Sunak as “no contact”.

Retiree Lynne replied, “He can say that, right?” He’s a billionaire, and so is his wife. If you had money, you wouldn’t worry, would you?”

Read more: “Inflation: Higher interest rates are not a miracle cure.”

The rise in interest rates has seen some homeowners’ mortgage payments rise by as much as £500 a month.

“It’s disrespectful to people on lower incomes, especially young people. To think anyone could afford half a grand more a month is so unrealistic it’s ridiculous,” said a woman in her 20s who spoke to the Herald.

Nick, 53, who now lives in Dumfries but is originally from Yorkshire, says Sunak is unaware of how this issue is really affecting people: “It’s easy to say that when you live in a silver tower.” Mine Wife and I are lucky not to have a mortgage, but it’s difficult for young people. I have a nephew in Leeds who has a five year fixed rate mortgage but who knows what will happen after that. This could result in people becoming homeless. The matter needs to be resolved, and raising interest rates alone will not stop inflation.

“I think Sunak lost touch with real people a bit and I think he missed the message of why people want a raise. If you don’t get the raise, you won’t pay your mortgage, and if you don’t pay your mortgage, you’ll lose your house. Banks could do more to help people like they did during lockdown.

Read more: Rishi Sunak was branded shady and “oozing with vanity” after a TV interview

Personal disagreement with his comments aside, Angela Munro, 53, noted that it didn’t seem to make any political sense for the Prime Minister: “I think that’s a bit of a silly move on his part considering he got the votes from the Conservatives party could lose.” Homeowners if they suddenly have to pay inflated mortgage rates if he doesn’t do anything.”