UK borrowing to reach at least £385bn by end of November

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By Burhan Khadbai
16 Jul 2020

The UK Debt Management Office outlined its borrowing plan for the period of September through to the end of November on Thursday, announcing that it plans to issue a minimum of two syndicated Gilts and 38 auctions during the period as its funding needs soar to unprecedented levels as a result of the coronavirus pandemic.

The UK DMO said its additional needs for this period will take the volume of Gilt sales this financial year — which began in April — to at least £385bn. This is over double the £156.1bn that the sovereign had initially planned for the entire financial year before ...

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