HC Deb 03 March 2000 vol 345 c430W
Barbara Follett

To ask the Chancellor of the Exchequer if he will make a statement on the Government's investments. [113413]

Miss Melanie Johnson

Today we have confirmed our plans to sell 150 tonnes of gold in 2000–01, a sum equivalent to the amount sold in 1999–2000 on a pro rata basis. These sales form part of the programme announced on 7 May 1999,Official Report, column 479W, to restructure the United Kingdom's reserves holdings. As in 1999–2000, the sales will be made through Bank of England auctions. There will be six auctions during 2000–01, which will be held every other month starting in May. As in 1999–2000, the auctions will be of approximately 25 tonnes each, and they will continue to be conducted on a single price basis.

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