Baroness Kramer – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Baroness Kramer on 2016-04-11.

To ask Her Majesty’s Government what assessment they have made of the impact of speculation around the EU referendum on UK gilt auctions.

Lord O’Neill of Gatley

The average amount bid by wholesale Gilt-edged Market Makers (GEMMs) at gilt auctions between 14 May 2015 and 7 April 2016 was £202.17 million per GEMM per auction.

As the Prime Minister and the Chancellor have said, the civil service is working to support the Government’s position that Britain is stronger, safer and better off remaining in a reformed EU. Gilt auctions are expected to proceed as normal in the build up to the EU referendum, in line with UK Debt Management Office (DMO) plans published on 31 March 2016.

As customary, the DMO will publish precise details of gilt auctions for July-September 2016 one month before the start of the quarter on 31 May 2016.