Rising interest rates and public services

Naturally the discussion of interest rates focuses on the impact on families with mortgages, credit cards, etc – especially if there are suggestions that interest rates of 7.5% might be required.

But interest rates have major implications for public services.

For example, many Further Education colleges have embarked on (or are proposing) ambitious “accommodation strategies” driven by the Learning and Skills Council’s commitment to “world class buildings” – if interest rates rise on the loan finance required, life becomes much harder.