Budget: Govt to consult on launching perpetual gilts

Osborne, delivering the 2012 Budget, said the UK's Debt Management Office would look at issuing a tranche of gilts with no redemption date, as well as gilts dated more than 50 years, in what would be one of the longest-dated issues ever launched by the UK. Osborne said he would float the idea to the market, with a consultation on whether the bonds could be launched. However, following criticism, he did not propose a 100-year gilt. Launching long-dated bonds now would enable the government to borrow when interest rates are at record lows, helping to manage down the country's debt ov...