UK Faces Highest 30-Year Borrowing Rate Since 1998

On 8 September 2026, the UK borrowed £4 billion over 30 years at 5.82% — the highest rate at that maturity since 1998. This locks in roughly £233 million in yearly interest for a single auction. Rising oil-driven inflation has pushed long-term government bond yields higher, making debt issued by the Debt Management Office considerably more expensive to service.