Interest payments on the national debt rose 70 per cent last month to £7.6 billion (compared with a year earlier) – largely because of the impact of inflation on income paid to holders of index-linked gilts, which are inflation-protected government bonds. More worryingly, this was 49 per cent more than the official forecast made in March by the Office for Budget Responsibility (OBR).

Where’s Boris’s plan to stop the economic chaos?

Comments
Don't miss out
Join the conversation with other Spectator readers. Subscribe to leave a comment.
UNLOCK ACCESSAlready a subscriber? Log in