MPs Demand End To £1B Windfall For UK Gilt-Holders

Law360, London (February 12, 2019, 12:23 PM GMT) -- The British government faced mounting pressure on Tuesday to change a calculation for inflation that hands holders of gilts an extra £1 billion ($1.3 billion) in interest every year, as two panels of lawmakers called on civil servants to help “correct the error.”

Two panels of lawmakers want HM Treasury, pictured, and another government department to end a bureaucratic stalemate that they say has created a windfall for government bond holders. (AP) The House of Commons Treasury Committee and the Lords Economic Affairs Committee want to break a bureaucratic stalemate that they say has created a huge windfall for government bond holders....

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