Thinktank says Rachel Reeves’s budget had started to assure bond markets about fiscal approach

• Rachel Reeves’s test from the bond markets starts now

The “premium” that the UK pays to borrow money compared with its international peers may be coming to an end as markets grow more confident about the government’s plans, a thinktank has suggested.

The Institute for Public Policy Research (IPPR) said that the chancellor Rachel Reeves’s announcement in the autumn budget that she would be more than doubling the UK’s financial headroom by 2030 from £9.9bn to £22bn had begun to assure bond markets about Labour’s fiscal approach.

UK gilt yields may have dropped a bit relative to other major countries, but it’s not at all clear that the fall with continue

• UK’s higher borrowing costs compared with major countries ‘may be coming to an end’

Good news for Rachel Reeves: the cost of government borrowing has fallen a bit relative to the US and eurozone countries. Better news: the chancellor may have something to do with it. Better still: some economists think there’s more to come.

Let’s not get carried away, though. The UK is still paying a painful premium on its borrowing costs, as the Institute for Public Policy Research thinktank illustrates. Since last year’s general election the yield on 10-year government gilts is up almost 70 basis points – or seven-tenths of 1% – compared with US Treasury bonds, and the increase versus the eurozone is almost 25 basis points. The gaps are wider for 30-year bonds and the consequences are real. IPPR calculates that if the premium could be reduced to zero, the Treasury would save as much as £7bn a year until 2029-30.

Thinktank says Rachel Reeves’s budget had started to assure bond markets about fiscal approach

• Rachel Reeves’s test from the bond markets starts now

The “premium” that the UK pays to borrow money compared with its international peers may be coming to an end as markets grow more confident about the government’s plans, a thinktank has suggested.

The Institute for Public Policy Research (IPPR) said that the chancellor Rachel Reeves’s announcement in the autumn budget that she would be more than doubling the UK’s financial headroom by 2030 from £9.9bn to £22bn had begun to assure bond markets about Labour’s fiscal approach.

Exclusive: Culture secretary announces first national youth strategy in 15 years to help ‘vulnerable’ generation

Young people have faced “violent indifference” from the political establishment for decades, leaving them struggling to navigate a changing world, the culture secretary said as she announced the first national youth strategy in 15 years.

In an interview with the Guardian, Lisa Nandy said young people today were the most digitally connected but also the most isolated generation, adding that more could be done to police online spaces under new laws.

Exclusive: Culture secretary announces first national youth strategy in 15 years to help ‘vulnerable’ generation

Young people have faced “violent indifference” from the political establishment for decades, leaving them struggling to navigate a changing world, the culture secretary said as she announced the first national youth strategy in 15 years.

In an interview with the Guardian, Lisa Nandy said young people today were the most digitally connected but also the most isolated generation, adding that more could be done to police online spaces under new laws.

Exclusive: Culture secretary announces first national youth strategy in 15 years to help ‘vulnerable’ generation

Young people have faced “violent indifference” from the political establishment for decades, leaving them struggling to navigate a changing world, the culture secretary said as she announced the first national youth strategy in 15 years.

In an interview with the Guardian, Lisa Nandy said young people today were the most digitally connected but also the most isolated generation, adding that more could be done to police online spaces under new laws.

Civil rights coalition calls for immediate closure of camp, where more than 2,700 detainees are being held

Officers at the large immigration detention camp located at the Fort Bliss army base in Texas are allegedly mistreating detainees, with accusations including beatings, sexual abuse and clandestine deportations of non-Mexican nationals into Mexico, according to a coalition of local and national US civil rights organizations.

In a 19-page letter, addressed to senior government officials at the Immigration and Customs Enforcement ( ICE ) agency and Fort Bliss military command, the coalition accuses officers at the immigration detention facility on the base, called Camp East Montana, of being “in violation of agency policies and standards, as well as statutory and constitutional protections”.

Civil rights coalition calls for immediate closure of camp, where more than 2,700 detainees are being held

Officers at the large immigration detention camp located at the Fort Bliss army base in Texas are allegedly mistreating detainees, with accusations including beatings, sexual abuse and clandestine deportations of non-Mexican nationals into Mexico, according to a coalition of local and national US civil rights organizations.

In a 19-page letter, addressed to senior government officials at the Immigration and Customs Enforcement ( ICE ) agency and Fort Bliss military command, the coalition accuses officers at the immigration detention facility on the base, called Camp East Montana, of being “in violation of agency policies and standards, as well as statutory and constitutional protections”.

Civil rights coalition calls for immediate closure of camp, where more than 2,700 detainees are being held

Officers at the large immigration detention camp located at the Fort Bliss army base in Texas are allegedly mistreating detainees, with accusations including beatings, sexual abuse and clandestine deportations of non-Mexican nationals into Mexico, according to a coalition of local and national US civil rights organizations.

In a 19-page letter, addressed to senior government officials at the Immigration and Customs Enforcement ( ICE ) agency and Fort Bliss military command, the coalition accuses officers at the immigration detention facility on the base, called Camp East Montana, of being “in violation of agency policies and standards, as well as statutory and constitutional protections”.