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£1.1bn pensioner bonds sold

More than £1 billion of the Government's new market-leading pensioner bonds have been sold to more than 110,000 over 65s, George Osborne has said.

The Chancellor said the sale had been "hugely successful" with £1,153 million worth sold in the first two days.

A pot of up to £10 billion has been put aside for the 65-plus bonds, which are available online, over the phone and by post, but some consumers initially found themselves struggling to get on the website as well as finding the phone lines jammed as the stampede to get hold of them got under way.

Mr Osborne tweeted: "Latest figures this morning show that we've had biggest opening sales of a retail bond sale in modern British history.

"Our long-term economic plan involves supporting savers. Can report that our 65+ Pensioner Bond proving hugely successful.

"Can confirm £1,153 million of bonds sold in 2 days to over 110k pensioners. Total of £10bn available - so plenty left & on sale for months."

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