High yields threaten to wipe out at least half of the £24bn headroom John Healey was expecting to have for his budget
The UK government was forced to pay the highest interest rate for a 30-year bond since 1998 on Tuesday, underlining the fiscal challenges facing the chancellor, John Healey.
Echoing the global bond market sell-off that has driven up yields, or interest rates, on government borrowing across major markets, the Treasury paid 5.82% to borrow £4bn.
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