Osborne Starts Paying Off World War I Debt 100 Years On
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One hundred years after the outbreak of World War I, U.K. Chancellor of the Exchequer George Osborne announced plans to repay some of the debt issued to help finance the conflict.
About 218 million pounds ($349 million) of undated debt paying 4 percent a year will be redeemed at par on Feb. 1, Osborne said today. The Debt Management Office estimates Britain has paid 1.26 billion pounds in interest since the bonds were sold in 1927.