Published by Mark Smith-HalvorsenThe pound lost ground against the dollar and the yen this morning (March 26th) after a close inspection of the Budget revealed the repayment burden the British taxpayer faces in bringing the UK's debts under control.The Institute for Fiscal Studies has calculated that by 2014-15, UK debt interest payments will climb to £73.8 billion, meaning that for every pound collected in tax, 10p will be spent clearing interest.Responding to the report, the Telegraph warned that the figures are likely to cause further consternation among forex dealers and securities traders, while also adding impetus to ratings agencies considering downgrading the UK's sovereign debt rating.The foreign exchange economic events calendar is relatively quiet for the pound today, with all eyes focused on Brussels for the second day of the EU economic summit, where heads of state are meeting to discuss Greece's debt crisis, with Germany and France at the centre of negotiations.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site