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Gilt-Edged Market

Volume 974: debated on Monday 26 November 1979

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asked the Chancellor of the Exchequer whether he will now review the operation of the gilt-edged market with special reference to the funding of the public sector borrowing requirement.

A number of proposals for changing the techniques of gilt-edged market management were discussed in

the balance of trade in goods other than oil in each of the years 1974–78 and the current year to date with ( a) output in manufacturing, ( b) output in the whole economy less both manufacturing and oil and gas and ( c) output per head and per hour in each of these categories.

Such information as is available is shown below. Estimates of output per man-hour are not readily article in the June issue of the Bank of England's

Quarterly Bulletin. As that article made clear, the authorities are always prepared to consider new proposals and, as in the past, to make any further changes they think desirable in the light of the need to finance the PSBR consistently with the Government's monetary target.