UK’s Reeves Is Set to Get a Boost From Falling Debt Interest

Rachel Reeves is on course to secure a windfall from the falling cost of the UK’s debt-interest payments for the first time since she became chancellor of the exchequer in July 2024.

At next month’s spring statement Reeves is likely to bank an extra £1.5 billion ($2 billion) in lower borrowing costs compared to her budget last November, according to calculations by Bloomberg Economics. Yields on 10-year gilts have fallen 25 basis points over that time.