UK 30-YEAR BORROWING COSTS RISE TO HIGHEST SINCE 1998

Britain's long-term government borrowing costs hit their highest since 1998 on Tuesday, adding to the problems facing finance minister Rachel Reeves who plans to borrow hundreds of billions of pounds to fund higher public investment and spending.

Long-term borrowing costs around the world have risen following the COVID-19 pandemic and Russia's full-scale invasion of Ukraine in February 2022, which caused inflation to surge.

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