- UK bond yields have recently reached fresh multi-decade highs, and new Chancellor of the Exchequer John Healey faces a tricky first budget later this month.
- Despite high interest costs demanded by investors, the UK's debt pile has been remarkably stable since the pandemic.
- Measured as a share of national output, UK debt is well below the once-dire official projections, which is why the IMF is praising the country's fiscal position.