<h1>UK Borrowing Costs Hit Post-2008 Crisis Highs; Rising Gilt Yields May Force Tax Hikes or Spending Cuts.</h1> UK borrowing costs have surged to their highest since the 2007-08 banking crisis, affecting government tax and spending plans. Yields on UK government bonds, or gilts, have risen due to increased borrowing, with ten-year debt yields reaching 4.82% and 30-year gilts at 5.383%. This rise in yields, caused by higher government debt supply, raises borrowing costs. Similar trends are observed in the US and France, with their budget deficits expected to exceed the UK's 4.5% of GDP. Rising inflation and global economic factors further contribute to increased borrowing costs, impacting the UK budget and potentially necessitating tax hikes or spending cuts.