Burnham tries to calm bond market fears as sell-off threatens crucial first budget

Prime minister promises his government will make decisions ‘grounded in fiscal responsibility’ Andy Burnham moved to calm volatile bond markets on Wednesday as surging borrowing costs threatened to wreck plans for his government’s crucial first budget next month. After a days-long sell-off of government bonds – and wit

Kemi Badenoch accuses Labour leader of being unable to refuse spending requests in first Prime Minister’s Questions

Rising borrowing costs are pressuring governments and pushing up loan rates.

Government yields are hitting multi-decade highs, reflecting anxiety about debt levels, deficits and inflation. The effects will extend to mortgages, business loans and other types of credit.