'Borrowing costs hit 28-year high' and 'Come cry with me'

4 hours ago

News image — The upcoming local elections on Thursday and jet fuel shortages dominate Wednesday's papers. Long-term borrowing costs have hit at 28-year high, the Guardian reports, as Labour is "under pressure" to protect low-income households from soaring utility bills before winter. Elsewhere, superstar Beyoncé's eye-catching skeleton dress at the Met Gala dominates the top picture spot.

The headline on the front page of the Guardian reads: "Labour under pressure after UK borrowing costs hit 28-year high." — The upcoming local elections on Thursday and jet fuel shortages dominate Wednesday's papers. Long-term borrowing costs have hit at 28-year high, the Guardian reports, as Labour is "under pressure" to protect low-income households from soaring utility bills before winter. Elsewhere, superstar Beyoncé's eye-catching skeleton dress at the Met Gala dominates the top picture spot.

The headline on the front page of the Financial Times reads: "Long-term borrowing costs highest in decades as prolonged inflation looms." — The Financial Times follows by saying the fallout from soaring oil prices due to the conflict in the Middle East could mean that the UK economy will face a prolonged period of higher inflation.

The headline on the front page of the Daily Telegraph reads: "Starmer could cost us election, says Welsh leader." — The Daily Telegraph features an interview with the first minister of Wales, who says there was a "danger" that Labour could lose control of the Welsh parliament because of protest voting. Baroness Morgan of Ely told the paper she hopes voters "will reflect on what this election is really about" and not "pick a fight" with Sir Keir Starmer.

The headline on the front page of the Daily Mirror reads: "We're still only ones on your side." — "We're still the only ones on your side" is the PM's message on the Daily Mirror's front page. Writing in the paper, Sir Keir Starmer is urging voters to have faith that Labour can deliver on its promises ahead of local elections on Thursday.

The headline on the front page of the Times reads: "Polanski's false claims about Red Cross role during deputy run." — Greens leader Zack Polanski is facing accusations that he falsely claimed to be a spokesperson for the British Red Cross, the Times reports. The British Red Cross said Polanski "has not been a spokesperson" for the organisation and has raised the issue with his team. In response, the Green Party said Polanski had been a host "for several fundraisers for the British Red Cross" and had been on stage supporting their work.

The headline on the front page of the Sun reads: "Come cry with me." — "Come cry with me" is the Sun's take on the 13,000 flights that have been cancelled for May due to jet fuel shortages according to aviation firm data. The paper says figures show nearly two million seats have been slashed from flight schedules in just the past fortnight.

The headline on the front page of the i Paper reads: "Millions face flight cancellations as jet fuel shortage deepens and Iran ceasefire falters." — The global jet fuel shortage deepens, echoes the i Paper as it reports that the UK is among countries hardest hit by the crisis this summer. Airlines warn that "millions" of seats on flights could be cut in the coming months as the war in Iran drags on.

The headline on the front page of the Independent reads: "Ceasefire shattered as Iran fires drones and missiles at UAE." — Shifting its focus to the Middle East, the Independent warns the ceasefire was "at risk of collapse" after Iran's latest attack on the UAE on Tuesday night and missile strikes in the Strait of Hormuz. Despite US Defence Secretary Pete Hegseth's insistence that the truce was "not over", Tehran has warned it was "just getting started".

The headline on the front page of the Metro reads: "A target on the backs of UK Iran critics." — Iranians living in the UK who oppose Tehran's regime say they fear for their lives after their personal details were made public online, the Metro reports. One activist who is among more than a dozen people whose details were leaked, told the paper that he feels he has "a target on my back".

The headline on the front page of the Daily Express reads: "Unremovable." — "Unremovable" is the headline splashed across the Daily Express. The paper says new figures show the state of the UK's "broken asylum system", with only 495 small boat arrivals from Afghanistan, Eritrea, Iran and Iraq deported since 2018.

There is much focus on the Green Party of England and Wales and its leader, Zack Polanski. According to Kitty Donaldson in the i Paper, he is "entering his Corbyn era" and as she puts its "we know how that ended". A Green Party spokesperson says its investing in strengthening its vetting procedures.

An investigation by the Times has found that Polanski falsely claimed to be a spokesperson for the British Red Cross. He reportedly mentioned the role on his website in 2020 and repeated it two years later while crowdfunding to be deputy leader of the Greens. A party spokesperson said Polanski had been a host "for several fundraisers for the British Red Cross" and had been on stage supporting its work.

"We're the only ones on your side", is Prime Minister Sir Keir Starmer's message in the Daily Mirror ahead of tomorrow's elections in many parts of the UK. But according to the First Minister of Wales, Baroness Morgan, he could cost Labour control of the Senedd for the first time in its 27-year history. She has told the Daily Telegraph Sir Keir "comes up as an issue on the doorstep".

The Guardian and The Financial Times lead on the UK's long-term borrowing costs climbing to their highest level since 1998. The FT says the "deepening" of the Strait of Hormuz crisis has added to fears that the economy faces a prolonged period of higher inflation.

Arsenal are the toast of the back and some front pages after securing a place in the Champions League final for the first time in 20 years. "All guns blazing", declares the Daily Telegraph, while the Sun opts for "Saka the net", in reference to last night's goalscorer, Bukayo Saka. "Gunners Buk final spot" is The Mirror's headline with the paper saying the club now has a "shot at European supremacy".

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'Borrowing costs hit 28-year high' and 'Come cry with me'

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