"The Pound has fallen to its lowest level in nine months, dropping by as much as 1.1% to $1.233 against the Dollar due to rising UK government borrowing costs. UK 10-year borrowing costs surged to their highest level since the 2008 financial crisis, raising concerns about future tax increases or spending cuts. Shadow Chancellor Mel Stride criticized the Chancellor's spending and borrowing plans, stating they are making it more expensive for the government to borrow. Economists warned that rising borrowing costs could threaten Labor's investment promises and may require a painful recalibration of spending plans."