He announced that he would enter into talks with the Treasury and Bank of England to find a way to help lenders access stable, low-cost funding to help bring money market rates down quickly.
Further to this, Darling reaffirmed his commitment to long-term mortgage products, revealing that the area of the market had been the focus of a governmental review which demonstrated that first-time buyers and lower income families could really benefit from a reduced level of risk when taking out a 10, 20 or 25-year product.
He is to "seek views" on how to better promote the benefits of this area of the market, drawing on international experience - an announcement which provoked a loud reaction from his critics - with an intention to report back on this in his Pre-Budget Report in six months.
