Rishi Sunak ‘wasted £11bn by paying too much interest’ on UK debt

Labour accuse chancellor of wastefulness for failing to insure against interest rate rises

Rishi Sunak has been accused of wasting 11bn of taxpayers' money by paying too much in interest servicing the government's debt.

The National Institute of Economic and Social Research (NIESR) said the losses were the result of the chancellor's failure to insure against interest rate rises on 900bn of reserves created through the quantitative easing (QE) programme.