Cabinet told public spending cuts must be ‘ruthless’: Telegraph
- The U.K. Government is facing pressure for public spending cuts as bond yields rise to decade highs, with 30-year gilt yields hitting their highest level since 1998.
- The rise in borrowing costs is attributed to waning investor confidence and external factors like the return of Donald Trump to the White House.
- The Institute for Fiscal Studies warns of a 'knife edge' chance for the U.K. To meet fiscal rules, presenting Finance Minister Rachel Reeves with tough options.
- Former U.K. Finance Minister Vince Cable stated that higher bond yields are not an 'emergency panic situation' and criticized Labor's focus on national insurance hikes.
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Coverage Details
Total News Sources0
Leaning Left5Leaning Right1Center4Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
L 50%
C 40%
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