Rachel Reeves, pictured at the Regional Investment Summit 2025, promised ‘targeted action to deal with cost of living challenges’ - Jose Sarmento Matos/Bloomberg Rachel Reeves is facing a £28bn blow from soaring inflation as it pushes up the cost of Britain’s debt payments. Interest payments on so-called linker bonds, which promise investors returns tied to inflation, are expected to total £28.5bn this year, according to economists. That is £2bn more than official estimates made in March and four times ...