Treasury sources concede "less room" for manoeuvre as global bond selloff also hikes government's borrowing costs.
International bodies warn of rising debt and borrowing risks
Burnham stands by claim UK is ‘in hock’ to bond markets
Oil prices lurched upwards again on Thursday, creating a growing headache for UK policymakers ahead of John Healey’s budget next month. While Healey has been keen to present an upbeat picture of the UK’s economic prospects, Treasury sources concede the sharp jump in oil and gas prices means they have "less room" than a month ago.
Officials are working "at pace" on a range of possible options for supporting consumers, particularly if high prices persist, feeding through into a sharp rise in the quarterly energy price cap in January. But any package is expected to fall far short of
