Liz Truss’ mini-budget catastrophe has netted the Treasury almost £4 billion in windfall earnings.
The Financial institution of England confirmed yesterday that it had offered all the £19.3 billion in long-term bonds it had purchased to calm panic within the bond market after the September 23 tax return.
Public sale knowledge reveals the Financial institution offered bonds again to traders at a value of £23.1bn, largely resulting from improved market circumstances. The £3.8 billion revenue can be transferred to the Treasury beneath an settlement between Authorities and the central financial institution.
The financial institution stated: “The purchases had been made to revive orderly market circumstances following the dysfunction within the UK greenback market and thus cut back credit score contagion dangers.
