Britain Grapples With Exploding Borrowing Costs
- The UK's borrowing costs have reached their highest level since the 2008 financial crisis, putting pressure on Rachel Reeves to balance the books.
- Government bond yields rose to 4.89% for 10-year gilts, the highest since 2008, before settling at 4.82% at market close.
- The rise in gilt yields could impact Labour's financial headroom, as noted by Isabel Stockton of the Institute for Fiscal Studies.
- The Conservatives criticized the Chancellor for her trip to China amid rising borrowing costs, while Treasury Chief Secretary Darren Jones defended the trip as important for trade.
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Coverage Details
Total News Sources0
Leaning Left2Leaning Right3Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 18%
C 55%
R 27%
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