Pound falls as borrowing costs rise to highest since 2008

The pound has fallen to its lowest level for nine months after UK government borrowing costs continued to rise.The drop came as UK 10-year borrowing costs surged to their highest level since the 2008 financial crisis when bank borrowing almost ground to a halt.Economists have warned the rising costs could lead to further tax rises or cuts to spending plans as the government tries to meet its self-imposed…