Europe

UK long-term borrowing costs couldhalve chancellor’s budget headroom

Yield on 30-year gilts highest since 1998 as rout triggered by global factors underlines tricky backdrop John Healey faces

This story summarizes reporting from The Guardian. Read the original for full context. Wire items stay in our news sitemap for seven days. Editorial policy.

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Heather Stewart Economics editor1 Sept 2026, 02:25 pmUpdated 7h ago1 min readEuropeUnited Kingdom

United Kingdom — Heather Stewart Economics editor

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

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, economists say.

The UK’s long-term borrowing costs jumped to their highest level since early 1998 on Tuesday as investors dumped government bonds, betting on higher inflation.

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, economists say.

This report is published with credit to The Guardian. The wire sent a summary; open the original for any extra context. Read on The Guardian →

Source: The Guardian · Heather Stewart Economics editor. Published 1 Sept 2026, 02:25 pm.

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