Budget: Government changes rules for DMO
Low and volatile gilt yields in the final quarter of fiscal 2005-6 have forced the government to announce new rules giving additional flexibility to the Debt Management Office in determining when it will issue debt.
Out of the 2006-7 tax year target of raising £63bn gross in new cash for the government, some £10bn is being withheld on the basis it may be issued on a supplementary basis from quarter to quarter through...
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