Why? Because over the last week, the yield on 10-year UK sovereign debt reached its highest level since the 2008 global financial crisis.

Increasingly alarmed at Labour’s economic management, and the growth-sapping nature of Reeves’s tax-and-borrow-to-spend policies, investors are charging more and more to lend our government money.

The UK’s debt interest bill, already a grotesque £85 billion a year under the Tories, more than the state spends on education, is heading above £100 per annum – tearing Reeves plans to pieces and severely threatening her much-vaunted fiscal rules.

Last week, lawyers acting for Liz Truss sent Prime Minister @Keir_Starmer a “cease and desist letter” – insisting Labour stops claiming that “Liz Truss crashed the economy”.

While some may scoff ­– political mudslinging is hardly a legal matter – Truss’s letter has caused many to reconsider her record.

After all, despite the Bank of England lowering benchmark borrowing costs over the last six months, rates set in the market – not least on sovereign debt, which directly influences mortgages plus other personal and corporate loans in the real world – have been surging.

The government is now paying around 4.8pc for 10-year debt, up from 3.8pc in early September and way above 4.2pc at the height of the mini-budget “crisis” which cost Truss her premiership.

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