Government borrowing costs jump after Reeves decides against income tax rise

BBC NewsFriday, November 14, 2025 at 6:15:02 PM
Government borrowing costs jump after Reeves decides against income tax rise
Government borrowing costs have increased significantly following the announcement that an anticipated income tax rise will not occur. The 10-year gilt yield has risen sharply in response to this news, indicating a reaction from the financial markets. This decision was made by Reeves, who opted against implementing the income tax increase that was expected in the upcoming Budget, leading to immediate financial implications for government borrowing.
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