Rachel Reeves intervention ruled out as pound slides further
- The Pound has fallen to its lowest level in nine months, dropping by as much as 1.1% to $1.233 against the Dollar due to rising UK government borrowing costs.
- UK 10-year borrowing costs surged to their highest level since the 2008 financial crisis, raising concerns about future tax increases or spending cuts.
- Shadow Chancellor Mel Stride criticized the Chancellor's spending and borrowing plans, stating they are making it more expensive for the government to borrow.
- Economists warned that rising borrowing costs could threaten Labor's investment promises and may require a painful recalibration of spending plans.
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Coverage Details
Total News Sources0
Leaning Left7Leaning Right8Center2Last UpdatedBias Distribution47% Right
Bias Distribution
- 47% of the sources lean Right
47% Right
L 41%
12%
R 47%
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