News · 27 March 2026
5% UK borrowing costs highest since 2008.
Photo by Marcin Nowak on Unsplash
Rising government borrowing expenses add to the challenges for Rachel Reeves, the chancellor, as pressure mounts to provide financial support for households already grappling with a cost of living crisis. These expenses passed 5% on Friday. This happened because of a global bond market fall and the Iran war. The yield on 10-year debt climbed 13 basis points to 5.081%, and Brent crude remained above $110 a barrel.
Reported by The Guardian · How we write briefs