New threat to Labour spending plans as UK long-term borrowing costs hit highest level since 1998

Inflation fears fuelled by Iran war and renewed uncertainty over Starmer’s leadership prompt bond sell-offThe risk to Labour’s tax and spending plans from the war in Iran was underscored on Tuesday, as long-term government borrowing costs hit their highest level since 1998.Fears of higher inflation as a result of the conflict have fuelled a selloff across government bond markets, which City analysts say has been exacerbated in the UK by uncertainty about the future of Keir Starmer’s government. Continue reading...