Letters: I’ve earned my final salary pension
Waning interest Sir: Michael Simmons correctly points out that the Treasury’s large-scale issuance of inflation-linked debt is adding heavily to the government’s interest bill at a time of relatively high inflation (‘Borrowed time’, 30 August). What he may not know is how complacent the Treasury has been about this matter. On the day Vladimir Putin invaded Ukraine in February 2022, I was interviewed for the role of chairman of the Debt Management Office. I suggested that a post-Covid inflation surge had started and that additionally oil prices might increase significantly because of the invasion leading to a need for higher interest rates. Pointing out that nearly a third of UK
