Bonus: How will Scott Bessent and the bond markets affect your tax and pension?

How will US Treasury Secretary Scott Bessent and global bond markets impact UK borrowing, John Healey’s UK Budget, and the wider UK economy? Rising inflation rates, soaring government debt, and higher borrowing costs are likely to effect UK tax and pensions. But can politicians intervene without making things worse?

The US Treasury intends to double its buyback operations of government bonds to control yields. But how far can Scott Bessent go before investors lose faith?

In this episode of The Business, Dominic O’Connell brings you essential market analysis with The Times economics editor, Mehreen Khan, and Chris Jeffery, Head of Macro Strategy at Legal & General Investment Management. They unpack how spiralling UK borrowing costs affect everything from mortgage rates to pension values, delivering the definitive financial news breakdown.

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Guests:

Chris Jeffery, head of macro strategy, Legal & General Investment ManagementMehreen Khan, economics editor, The Times

Presenter:

Dominic O'Connell. business correspondent, Times Radio

Producer: Hope Federico

Executive Producers: Miriam Hall and Emily Leahy

Video Producer: Bronwen Latham

Image: Getty