The UK Government has announced plans to issue more than £220bn worth of government bonds this financial year, well above the expected level.
With public borrowing expected to soar above £170bn over the next year, Chancellor Alistair Darling has announced the Government will be forced to issue £70bn of more gilts than the Debt Management Office estimated last month.
At its March meeting, the MPC decided to initiate the purchase of £75bn of assets using central bank reserves.
As of 16 April 2009, the Bank of England had purchased £2.4bn of commercial paper, £0.5bn of corporate bonds and £31.5bn of gilts.IFAonline
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Penalty payments and enforcement policy
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Client procurement costs ‘unsustainable’
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