UK borrowing costs surge
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Business & Economics
Labour's borrowing costs surge 'worse than Liz Truss chaos'
80% Informative
Interest rates on 30-year gilts approached 5.25% yesterday , the highest level for 27 years .
Surge heaps pressure on the Chancellor's spending plans, which were already seen as tight.
Treasury official insist that meeting the government's fiscal rules is 'non-negotiable' But headroom looks to be all-but wiped out, potentially leaving Reeves choosing between spending cuts and tax rises.