UK borrowing costs rise as Burnham and Badenoch clash at prime minister’s questions
UK government borrowing costs rose to their highest level since June 2008 as Prime Minister Andy Burnham faced Kemi Badenoch in his first PMQs.
UK 10-year government borrowing costs increased during Prime Minister Andy Burnham’s first parliamentary questions session against Conservative leader Kemi Badenoch. Badenoch pressed Burnham over spending and potential tax increases, while he blamed the previous Conservative government for leaving the economy exposed.
The Guardian reported that most market strategists attributed the pressure mainly to higher oil prices, though some economists also pointed to Burnham’s plans for public control of utilities.