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UK long-term borrowing costs hit highest level since 1998 ahead of Budget
Developing
On top of that, higher government rates can feed through to higher business and household borrowing costs, and so weigh on the economy. Karen Ward, JP Morgan's chief market strategist for Europe, said governments around the world want to increase spending and are turning to borrowing to fund it.
The chancellor has previously said he will stick to a set of fiscal rules imposed by his predecessor Rachel Reeves that restrict borrowing. Despite the squeezed public finances, Burnham said said he would bring about "more substantial change" to ease living costs.
What's confirmed
What's still developing
- Despite the squeezed public finances, Burnham said said he would bring about "more substantial change" to ease living costs.
- The chancellor has previously said he will stick to a set of fiscal rules imposed by his predecessor Rachel Reeves that restrict borrowing.
- On top of that, higher government rates can feed through to higher business and household borrowing costs, and so weigh on the economy.
- Karen Ward, JP Morgan's chief market strategist for Europe, said governments around the world want to increase spending and are turning to borrowing to fund it.
Sources
- BBClink