6) Gilt issuance
The government anticipates that £224.3bn of total gilts sales will take place by auction in the next tax year, with roughly £31bn by syndication.
This is broken down:
- £95.3bn - short conventional gilts
- £82.1bn - medium conventional gilts, including green gilts
- £49bn of long conventional gilts, including green gilts
- £28.9bn of index-linked gilts.
7) NS&I and Green Savings Bonds
National Savings & Investments will have a net financing target of £9bn set in 2024-2025. Finance raised from the British Savings Bonds, which were announced in the Budget, will contribute to this target.
Regarding the Green Savings Bonds, which NS&I launched in 2021, the NS&I bean-counters estimate there will have been £1bn raised from GSBs in the 2023-2024 financial year, and £1.9bn raised in total since October 2021.
Last word?
But with no uplift to the individual tax thresholds, even more Isa products than ever, and a lack of real change in terms of income tax and CGT, the punters - according to our inbox - are not particularly happy.
As Tom Clougherty, executive director of the Institute of Economic Affairs think tank, said: “As always, there are good and bad things in this Budget.
"But if we take a broader view of economic policy, it hasn’t really moved us any closer to where we need to be.”
