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💰 Business 🔥 everyone's chattering 26d ago · 3 sources

UK long-term borrowing costs surge to 28-year high ahead of Budget

🐿️ The Squirrel's Take

The chancellor now faces a classic nut hoarding dilemma: defend fiscal rules by slashing spending or invest despite higher costs, risking a market backlash.

💡 Why it matters

Sustained high borrowing costs could force tax rises or spending cuts, directly impacting public services and the government's ability to invest in infrastructure and net zero.

The yield on 30-year UK gilts hit their highest level since 1998 amid a global bond sell-off driven by inflation fears. This surge could almost halve Chancellor John Healey's fiscal headroom ahead of the October Budget, according to economists.

#gilt yields #fiscal headroom #borrowing costs #october budget #inflation fears

📡 Where we spotted it (3)

UK long-term borrowing costs highest since 1998 ahead of October Budget

UK long-term borrowing costs could halve chancellor’s budget headroom

Andy Burnham to face first PMQs as borrowing costs rise – UK politics live

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