UK Borrowing costs surge to highest level since 200820 Mar 2026 16:14
The cost of government borrowing has surged to its highest level since 2008 as investors worry about an inflation shock in the UK.
The yield on 10-year gilts, as government bonds are known, rose above 5pc on Friday for the first time in nearly 18 years.
It is its highest level since July 2008, just two months before the collapse of Lehman Brothers triggered the global financial crisis and dramatic declines in interest rates.