But analysis of Cabinet Office documents by the BBC has found government departments spent around £101m from April 2023 to June 2025.
They recommend selling 10-year bonds following a 17 basis point decline in yields since the start of the year, their best performance over the period since 2020. Bunds are now the most expensive they’ve been relative to short-dated interest rates swaps since March 2025, according to Barclays’ analysis.
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Under his leadership, he oversaw huge acquisitions, from Minecraft creator Mojang, to the biggest deal in gaming history with Call of Duty maker Activision Blizzard.
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