Banks battle for mortgages ahead of looming interest rate hike Banking Britain’s biggest banks are battling for mortgage market share on razor-thin margins even as borrowers rush to remortgage ahead of looming interest rates hikes. The central bank is expected to lift its base rate to four per cent on Thursday – its first hike in three years – following a sharp resurgence in inflation. The [...]
‘Worryingly large’: Labour’s debt cost racks up to £200bn Economics More than £200bn has now been spent on covering government debt since Labour came into power, official figures show, reflecting the pressure bond traders have put on public finances in the last two years. Analysis of public finances data by City AM shows that debt interest payable to the government’s lenders in bond markets since [...]
Government debt repayment ‘could rise to half’ of total taxes Economics Children and young people today could see nearly half of their taxes spent on servicing government debt, new modelling by a favoured Labour think tank has suggested. Research by the Institute for Public Policy Research, a left-leaning think tank that was formerly the workplace of several Labour ministers and advisers, has shown that debt interest [...]
Andy Burnham is on course to rack up the second highest debt interest bill on record August 6, 2026 Britain’s national debt has reached £3 trillion. We can’t go on like this, says Anne Strickland Andy Burnham has been Prime Minister for just over a fortnight and in that time, Britain’s national debt crossed the unimaginable £3 trillion mark, according to the Taxpayers’ Alliance Debt Clock. It took us 11 years to go from [...]