The Treasury paid £4,000 of the £23,000 bill.

Lower interest rates mean the Treasury must pay less to carry the national debt.

During the first five years, the Treasury would pay interest on the bonds.

The Treasury pays $150 billion a year in interest, about 14 percent of all Government spending.

That's only a smidgen less than what a 10-year Treasury is paying.

Q: And will you be asking the Treasury to pay this in full?

Despite a record low yield for the two-year note of 4 percent, the Treasury may still have paid more than it had to.

In this case, it may mean the Treasury will pay more to expand its investor base, which some analysts said yesterday would be a good idea.

The Treasury never paid me for my dear dead Snowy.

This might push up average interest the Treasury pays from 9 percent to 9.01 percent on the entire $2.7 trillion.