Bloomberg News

U.K. Budget Finds 28 Billion-Pound Windfall, Sunday Times Says

March 04, 2012

A state takeover of the Royal Mail’s pension fund generated a 28 billion-pound ($44.3 billion) windfall for the U.K.’s budget, the Sunday Times reported, without naming its source.

The transfer requires European Union approval, which is expected within weeks, the London newspaper reported.

To contact the reporter on this story: Isaac Arnsdorf in London at iarnsdorf@bloomberg.net

To contact the editor responsible for this story: Mike Harrison at mharrison5@bloomberg.net


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