UK gilt sales to hit record £385bn in pandemic crisis

The UK will borrow an extra £110bn from debt markets to pay for the Covid-19 crisis, taking the total to a mammoth £385bn in just eight months of the financial year. The Debt Management Office announced plans to sell the gilts between September and November, days after the Chancellor unveiled an extra £30bn in support for a UK economy mired in its deepest recession for 300 years. The Treasury said the record gilt sales “are not expected to persist over the final four mont