News · 27 March 2026
5% UK borrowing costs highest since 2008.
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