‘Large tax hikes on the way’: How the global bond rout is boxing in Healey

Chancellor John Healey is likely to roll-out “large tax hikes” at this year’s Budget due to a rout in global bond markets pushing up the cost of government borrowing, economists have said. A jump in the 10-year gilt yield to the highest level since August 2027 could “further erode” the £22.7bn level of fiscal headroom [...]