UK Traders Brace for Reeves to Unveil £293 Billion of Debt Sales
- That’s the median estimate of 16 primary dealers in survey
- UK is seen borrowing more to fund shortfall, investments
Rachel Reeves
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Bond traders expect the UK to present one of its biggest borrowing plans on record this week as Chancellor Rachel Reeves attempts to balance her government’s pledge to boost growth with calls for fiscal discipline.
The Debt Management Office on Wednesday is expected to announce a £15 billion ($19.5 billion) increase in gilt issuance for this fiscal year, according to the median estimates of 16 primary dealers. That will take total borrowing to £293 billion, the highest for any year other than 2020, which was skewed by the response to the pandemic.