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UK Government debt management explored by MPs

25 October 2022

The Treasury Committee hears from the leadership of the Debt Management Office (DMO), the Treasury agency responsible for Government debt and cash management


Wednesday 26 October 2022, Grimond Room, Portcullis House

At 2.15pm

  • Sir Robert Stheeman, Chief Executive Officer, Debt Management Office
  • Jim Juffs, Chief Operating Officer, Debt Management Office
  • Jessica Pulay, Co-Head of Policy and Markets, Debt Management Office

Continuing their inquiry into the Autumn 2022 Fiscal Events, MPs are likely to explore how the September ‘mini-budget’ and its subsequent reversal impacted the UK gilt market. Witnesses’ views could be sought on how far domestic fiscal decisions played a role in market volatility, and whether continuing volatility is being driven by global events.

Also likely to be explored are the potential implications for the markets of the publication of the Medium Term Fiscal Plan, the Office for Budget Responsibility’s economic forecast, and the Bank of England’s programme of quantitative tightening, which is reducing its stock of UK Government bonds by £80 billion over the next twelve months.

Witnesses’ views are also likely be sought on whether distortion or disruption in bond markets could have been caused both by recent Bank interventions in response to market dysfunction and liability-driven investment strategies enacted by pension funds.

Further information

Image credit: Parliament copyright