Gilts
UK May Reap £70 Billion Borrowing From Household Covid Savings
- Treasury wants to broaden pool of government bond buyers
- Households hold £1.7 trillion that could help fund UK debt
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The UK Treasury is exploring a significant increase in the bonds it sells to retail investors, a move that analysts say may draw in as much as £70 billion ($85.8 billion) for financing deficits in the coming years.
The move would help Chancellor of the Exchequer Jeremy Hunt raise money at a time of economic turmoil and alleviate the pressure on traditional investors, who are being asked to shoulder record sales of UK debt.