If Your Mortgage is Bad – Spare a Thought for the UK Chancellor
Alistair Darling UK Chancellor of Exchequor
If your monthly mortgage payments are hurting or you are worried how interest rates will rise in the next year or so, then spare a thought for the UK Chancellor of the Exchequer.
In the past month, according to the FT, the increase in 10 year gilt (UK Government bonds) yields has added an extra £7.5bn to his interest rate bill. And, if inflation raises its head, then this will only rise further.
Poor chap.