§ Mr. TimmsTo ask the Chancellor of the Exchequer if he will make a statement on the Government's proposals to implement the transfer to the Treasury of the Bank of England's responsibilities for debt management, the sale of gilts, oversight of the gilts market and cash management. [11625]
§ Mrs. LiddellThe Government today published a proposal for consultation on the arrangements for Government debt and cash management. We propose to establish an agency of the Treasury to implement the annual borrowing programme, to liaise and deal with participants in the gilts market and to manage the Exchequer's cash position. Copies of the document have been placed in the Library of the House.