Suppose you had bought some UK government stocks at the beginning of December last year. After all, they are “risk free” in that you are as certain as anything is in this life that you will get the interest, and the capital repayment, on the due dates. If you were particularly unfortunate, you could have paid £170 for some Treasury 4.5 per cent 2042. Suppose also that you wondered what had happened since you bought it.
A government takeover of Thames Water would be an outrage
The new government’s hand is strong enough to resist nationalisation, which would stick over £18bn of debt onto the taxpayer.
