Insuring against rising interest rates may not have proved successful
Matthew Lesh writes for The Telegraph
Julian Jessop comments for The Times
Julian argued that the recommendation was “technically correct but completely unrealistic” and that it “would have required the Treasury to have perfect foresight about what interest rates were about to do.”
He also added: “This has been described as insurance but unlike forms of insurance it could have actually lost the government a lot of money if it had got the timing wrong.”
Read the full article here.