{"id":72,"date":"2013-06-02T17:24:04","date_gmt":"2013-06-02T17:24:04","guid":{"rendered":"http:\/\/asadkarim.co.uk\/?p=72"},"modified":"2013-06-02T17:24:04","modified_gmt":"2013-06-02T17:24:04","slug":"uk-debt-june-2013-borrowings","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=72","title":{"rendered":"UK Debt: June 2013 Borrowings"},"content":{"rendered":"<p>The UK Goverment borrows money on the open market, the agency responsible for raising money for HM Government is The UK Debt Management Office.<\/p>\n<p>[<a title=\"UK Debt Management Office\" href=\"http:\/\/www.dmo.gov.uk\" target=\"_blank\">http:\/\/www.dmo.gov.uk<\/a>]<\/p>\n<p>The DMO can issue Gilts or Treasury Bills to raise cash. These are effectively &#8220;I Owe You&#8217;s&#8221; that mature in the future.<\/p>\n<p>Looking at May 2013, we had 4 Gilt auctions:<\/p>\n<p>Wednesday 8-May-2013: 0 1\/8% Index-linked Treasury Gilt 2044: Raised: <strong>\u00a31,335.4556 Million<\/strong><br \/>\nTuesday 14-May-2013: 1\u00bc% Treasury Gilt 2018:\u00a0 Raised: <strong>\u00a35,297.7305\u00a0 Million<\/strong><br \/>\nThursday 16-May-2013: 3\u00bc% Treasury Gilt 2044: Raised: <strong>\u00a32,727.0145 Million<\/strong><br \/>\nWednesday 29-May-2013: 4\u00be% Treasury Stock 2015: Raised: <strong>\u00a31,922.4556 Million<\/strong><\/p>\n<p>This equates to <strong>\u00a311.282<\/strong> Billion for May 2013 on issuing gilts only<\/p>\n<p>Or to put it simply, The UK Goverment borrowed (using Gilts) \u00a3363 million a day to bridge the gap of its income (tax collection) and government spending.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK Goverment borrows money on the open market, the agency responsible for raising money for HM Government is The UK Debt Management Office. [http:\/\/www.dmo.gov.uk] The DMO can issue Gilts or Treasury Bills to raise cash. These are effectively &#8220;I Owe You&#8217;s&#8221; that mature in the future. Looking at May 2013, we had 4 Gilt [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-72","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/72","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=72"}],"version-history":[{"count":1,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/72\/revisions"}],"predecessor-version":[{"id":73,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/72\/revisions\/73"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=72"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=72"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=72"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}