Mortgage Rate Resets Every Month - What's Going On?

Mortgages in the UK are fixed for two to five years, so most people lock it in. The government announced a very large package of tax cuts and then larded on top of it a whole bunch of tax cuts which were totally unfunded. This has added about £70 billion to the amount of government debt that was going to have to be issued this year. And I think what this shows is how dangerous it is when policy seems to come out of nowhere.