Rise in UK borrowing costs could push Reeves to new public spending cuts
Analysts say costs hitting highest level since 1998 risk wiping out almost all of chancellor’s £10bn buffer
Rachel Reeves could be forced to make fresh cuts to public spending at her March “spring forecast” as a rise in government borrowing costs risks the chancellor breaking her own fiscal rules.
With the government under pressure on the economy, City analysts warned that Britain’s long-term borrowing costs hitting the highest level since 1998 risked wiping out almost all of a £10bn buffer the chancellor had kept in reserve at the autumn budget. Continue reading...
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