The i says the chancellor faces extra tax rises or cutting public services as the UK's "borrowing costs turn toxic". The paper writes economists are sending warnings to the Treasury over a "toxic combination" of factors hitting the UK.

Rising gilt yields and higher debt interest sound warning that Chancellor may miss her Budget borrowing targets

Economists have warned that Rachel Reeves is close to breaking her fiscal rules, which could lead to more tax increases, as borrowing costs reach their highest point since 1998. The Chancellor only has £1billion left in her budget before she faces a tough choice—raising taxes,

As with an ever-receding horizon, the prospect of significantly lower interest rates seems again to have been pushed further out into the future. This might be welcome news for cash savers, who for the first time in ages are enjoying real rates of return on their money.