Popular News From Popular Sites: Britain says will pay off World War One-era debt in full next March

Tuesday, December 2, 2014

Britain says will pay off World War One-era debt in full next March

A bus and taxi pass Big Ben on Westminster Bridge in London LONDON (Reuters) - Britain's finance ministry said on Wednesday that in March it will repay in full its 1.9 billion pound 3.5 percent War Loan, a perpetual bond issued in 1932 to help pay for World War One. The finance ministry also said this was the start of a strategy to remove six of the other undated gilts in the government's portfolio. "This will take advantage of the low yield environment to consolidate the debt portfolio and deliver a long-term advantage (to) the taxpayer," the finance ministry said in a statement. (Reporting by Andy Bruce; Editing by Susan Fenton)




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