The aftermath of Wednesday’s Budget announcement is still making headlines. The Financial Times reports that the government’s borrowing costs surged to their highest point this year on Thursday, driven by investor concerns regarding the extra debt linked to the government’s proposals. This increase in rates is approaching levels not seen since Liz Truss’s controversial mini-budget in 2022, which led to a financial crisis. However, some analysts have downplayed these comparisons, with one stating that “this does not look like a repeat of the market reaction” from that time.

According to the Daily Telegraph, markets have reacted negatively toward Chancellor Rachel Reeves, leading to a sell-off of UK assets as a swift response to her spending plans fueled by debt. In an interview with Bloomberg, Reeves attempted to reassure investors by asserting that public finances are on a “stable trajectory” and emphasized her commitment to “fiscal stability.”

The i highlights warnings from economists indicating that interest rates may decrease more slowly as a consequence of the Budget. Nevertheless, the International Monetary Fund has expressed support for the Budget, suggesting it aligns with plans for reducing the deficit over the medium term.

The Guardian mentions concerns raised about the potential need for an additional £9 billion in tax increases to prevent further austerity measures impacting public services. Paul Johnson, director of the Institute for Fiscal Studies, criticized Reeves for seemingly promising generous funding while also intending to limit public spending later on, asserting that such plans are unlikely to endure scrutiny from her cabinet colleagues.

The Sun reports significant discontent among farmers regarding new inheritance tax regulations that impose an effective 20% rate on family farms with assets exceeding £1 million. Some farmers fear this could lead to “massive disruption” and even food shortages.

The Daily Mail emphasizes that the Chancellor’s decision to raise national insurance contributions for employers could result in charities facing an annual cost of £1.4 billion. Charity leaders have expressed concerns that this change may force them to reduce services or even shut down altogether, urging Reeves for an exemption.

According to the Times, expenses related to sickness benefits are projected to reach £100 billion annually by the end of this parliamentary term due to a rise in claims following the pandemic. Work and Pensions Secretary Liz Kendall labeled this trend “unacceptable,” vowing that the government would devise a comprehensive plan aimed at getting people back into work.

The Metro reveals that 421 individuals have come forward alleging they were victims or witnesses of sexual abuse by former Harrods owner Mohamed Al Fayed. The Justice for Harrods Survivors group states that much of this alleged abuse occurred within Harrods itself.

Lastly, the Daily Mirror features images of Valencia streets devastated by recent floods in eastern and southern Spain, where casualties have reached 158 as rescuers continue their search for survivors. Experts attribute these disasters partly to climate change and warn of more challenges ahead.