Why the government’s debt is growing – current public spending pressures explained

The UK has seen the cost of its bonds rise more quickly than other major economies. Westlight / ShutterstockPressure to make cuts in public spending has intensified in recent weeks, with increased calls on Prime Minister Andy Burnham to find savings urgently.

The need to reduce expenditure has become more pressing as the cost of loans used to pay for services has shot up.

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