Rising borrowing costs batter UK government and threaten to derail its left-leaning program

Britain’s new government, which is already facing anger over higher taxes, unpopular spending decisions and political scandals just six months after taking office, is now being battered by rising borrowing costs that threaten to derail its left-leaning program. The yield on the U.K.’s 10-year bonds, a reflection of the price investors demand for financing the country’s debt, has risen by more than 1.1 percentage points since Sept. 16 on concerns over sluggish economic growth and stubbornly high inflation. As borrowing costs rise, the government has less money to spend on the country’s creaking National Health Service, military, emergency services and schools.