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Guernsey Chief Minister quizzed on £330m government bond

Credit: ITV Channel TV

Guernsey's Chief Minister faces tough questions from politicians today over the issue of a £330 million government bond.

It follows the recent publication of a report which found not enough due diligence was carried out before it was issued.

The bond means the States can lend money to government-owned trading bodies at a fixed rate, which keeps their repayments down.

However it costs taxpayers £11 million a year in interest.

Deputy Gavin St Pier will be quizzed by a scrutiny panel at a public meeting, where islanders are also invited to find out more about the bond.