Part 6/10:
An appraisal of borrowing rates in comparison to other countries illuminates the UK’s precarious position. For instance, other large European nations, such as Italy, boast borrowing rates significantly lower than the UK at 3.74%. Given that growth and inflation are likely to hover around 3.5% to 4%, Italy is seemingly in a more stable financial position that could prevent its debt from growing as a ratio of its GDP—a concern for the UK as its borrowing costs rise.