Good Morning Britain was back on Thursday, with hosts Susanna Reid and Ben Shephard at the helm of the daytime show.
As ever, they discussed the news and topics of the day, and were joined by a number of guests in the studio. Guardian journalist Owen Jones and Times journalist Quentin Letts were live on the programme as they considered the recent interest rate rise, with banks not passing on the increase to savers.
The conversation came as bank chiefs will today meet with Financial Conduct Authority (FCA) officials to discuss concerns surrounding interest rates for savers lagging behind the cost of mortgages.
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Owen said: "This mortgage timebomb, I don't think people have come to terms with how devastating it's going to be. [Some] people go 'well, in the 90s it went to 15%', but the problem is the ratio now between your mortgage and what you're earning is so much bigger. It's bigger now than it has been for 150 years.
"Things are much, much worse [than in the 90s]".
Quentin replied: "But the funny thing is, I was out last night in London, the centre of London was jammed. I was in Leeds the night before, jammed. People are spending ferocious amounts of money."
Viewers at home were quick to have their say on the debate on Twitter. Aid said: "It's not that savings rates are too low, it's that anyone w/ a mortgage that was, what, £500, £800 or 1k a month will have seen their monthly payments DOUBLE.
"WHO is perpetuating this idea that homeowners - saddled with an extra £1k a month in bills - are going to be saving?"
Charlotte: "People aren't allowed to go out and enjoy themselves any more apparently", and @Bugatti21012940 said: "Trying to deflect the conversation. Should people not enjoy their lives and put money into the economy?"
Good Morning Britain airs weekdays from 6am on ITV and ITVX
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