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BUDGET 2009 NEWS: Gov’t announces £220bn gilt issue

The UK Government has announced it is to issue £220bn of gilts this year.

The Debt Management Office announced the figures, which were expected to be around the £200bn mark. Prior to today the Treasury offshoot had expected to sell £148bn of new gilts into the market this year.

Hargreaves Lansdown investment manager Mark Dampier says: “We could end up with a buyers strike as people will look for higher yields given the huge amount that is going to be thrown into the market.”

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