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UK to take on Royal Mail pension to pay down debt
Mar 19th, 2012
LONDON (Reuters) - Chancellor George Osborne will use a 28 billion pound ($44.36 billion) asset transfer from taking on the Royal Mail's pension fund to pay down government debt next year, a government source said on Sunday. The transfer of the state-owned mail company's pension scheme - subject to European Union approval and due to be announced in next week's budget - will reduce the government's budget deficit next year, while the liabilities from the scheme, worth 37. ... (Source: Reuters) -
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