UK long-term borrowing costs could halve chancellor’s budget headroom

Yield on 30-year gilts highest since 1998 as rout triggered by global factors underlines tricky backdrop John Healey faces Business live – latest updates The chancellor’s headroom against Labour’s fiscal rules could be almost halved at his first budget if the current global bond sell-off persists into the autumn, eco

Higher borrowing costs have piled fresh pressure on Andy Burnham ahead of his first Budget.

Higher rates on the bonds will therefore mean that it costs UK more in order to borrow money

It came amid a widespread global bond sell-off amid concerns over ratcheting oil prices and wider uncertainty over inflation.

It came amid a widespread global bond sell-off amid concerns over ratcheting oil prices and wider uncertainty over inflation.