John Redwood: U.K. borrowing costs rise to 5.8 percent, higher than 2022 levels

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U.K. borrowing rate jumps to 5.8 percent

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15.05.2026

John Redwood: U.K. borrowing costs rise to 5.8 percent, higher than 2022 levels — U.K. borrowing rate jumps to 5.8 percent

John Redwood highlights the sharp increase in the U.K. government's 30-year borrowing rate, which surged to 5.8 percent. He contrasts this with 2022, noting that while the rate briefly spiked to 4.8 percent under Truss, the government was typically able to borrow at below 4 percent on most days that year. Redwood points out that the current rate is significantly higher, leading to greater costs for taxpayers, and observes that Reeves has not been able to secure borrowing at rates as low as those seen in 2022.

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Redwood has previously argued that the UK could increase North Sea oil output to one million barrels per day, projecting £18 billion in annual profit from such a move, according to his recent commentary. In separate analysis, MG Investment has discussed how recent actions by the Bank of England may weaken investor confidence and put further pressure on share prices, as detailed in a prior article. These perspectives come as scrutiny intensifies over government borrowing costs and fiscal policy.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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