UK government borrowing costs have reached their highest level since 1998, adding to the pressure on the chancellor ahead of the Budget. The interest rate on 30-year government bonds, known as the yield, jumped to 5.698%, its highest level for 27 years, as worries grew about the state of the government's finances. There are rising expectations that Chancellor Rachel Reeves will increase taxes in the Budget later this year in order to meet her financial rules. On the currency markets, the pound also fell more than 1% against the dollar on Tuesday morning. Governments borrow money from investors by selling bonds - which is a loan the government promises to pay back at the end of an agreed time. The yield on 30-year UK government bonds - known as gilts - has been rising for some months, and this makes it more expensive for the government to borrow money due to higher interest payments. The government's official forecaster, the Office for Budget Responsibility (OBR), takes borrowing costs into account when looking at whether the chancellor is meeting her self-imposed fiscal rules.
Just watched Thursday Murder Club......enjoyed every second of it.If you have not seen it may I recommend. A film as it should be. Excellent writing by Richard Osman.
Birmingham bin workers vote to extend strike past Christmas and into spring https://share.google/pUjvS8a49UT9na4Px
