Anonymousabout 1 hour ago
UK government borrowing costs have surged to levels not seen since before the 2008 financial crisis, with 30-year gilt yields hitting 5.8% — their highest since 1998 — as Labour's internal leadership battle compounds global bond market pressures. The crisis, triggered by devastating local election losses and a cascade of ministerial resignations culminating in Health Secretary Wes Streeting's departure on May 14, now threatens to reshape British fiscal policy as rival leadership contenders stake out sharply divergent positions on borrowing and spending rules.