Markets ‘orderly’ despite soaring borrowing costs, says Treasury minister

Chief Secretary to the Treasury Darren Jones said the Government’s fiscal rules are ‘non-negotiable’ (Ben Whitley/PA) - (PA Wire)

The Treasury has said UK financial markets are functioning “in an orderly way” despite the pound plunging to its lowest level for over a year after a rout in the bond markets.

Government borrowing costs increased further on Thursday morning, piling more pressure on the Labour Government’s fiscal plans.