Osborne: UK safe haven status saves £21.5bn

In his Autumn Statement at 12.30pm, Osborne will argue his deficit reduction plan has kept yields on gilts at record lows, reports City AM. He is expected to announce a so-called 'safe-haven dividend' which will be put towards other projects aimed at kick-starting UK growth. Osborne will use forecasts from the Office of Budgetary Responsibility, which predicted the UK's interest payments before the Budget in March, when the yield on 10-year-gilts was 3.6%. At the end of last week, the yield had fallen to 2.3% which equates to an implied saving of £21.5bn by 2015-16. However, this n...