A sobering chart from Martin Wolf (below). The gap between UK borrowing costs and other advanced economies isn't just persisting—it’s widening: A stark reminder of the "UK premium" currently baked into markets. This isn't just about debt service costs eating into the budget at a faster pace than elsewhere. It’s also about vulnerability. The more this "UK premium" embeds itself in the public finances, the higher the risk of a self-feeding vicious cycle. #economy #markets #debt #uk #UKeconomy #gilts @FT @martinwolf_