By Simon Miller

The Chancellor of the Exchequer George Osborne is considering offering a 100-year gilt in next week's budget.

According to reports, Osborne is looking to "lock-in" the UK's status as an international safe haven by offering gilts which have previously been used after the First World War and following the South Sea Bubble collapsed.

The average duration of current UK debt is 14 years with maturies up to 50 years.

The Debt Management Office will launch a consultation alongside the budget over the 100 year bonds as well as the concept of a perpetual bond after investors showed interest in the concept.

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