HC Deb 08 January 2002 vol 377 cc814-5W
Mr. Bercow

To ask the Chancellor of the Exchequer what has been the distribution of Government debt between the banking and non-banking sectors in each month since the 2001 Budget. [24798]

Ruth Kelly

Since the 2001 Budget, the proportion of British Government debt held by banks has averaged 1.7 per cent. The monthly amount of Government debt held by the UK banking sector is:

2001
Total central government debt (£ million) Debt held by UK banking sector (£ million) Proportion of debt held by UK banks (Percentage)
April 366,217 4,258 1.2
May 368,298 5,774 1.6
June 373,015 6,602 1.8
July 369,921 6,509 1.8
August 369,986 6,439 1.7
September 368,919 7,997 2.2

Source:

Financial Statistics, November 2001

Mr. Bercow

To ask the Chancellor of the Exchequer what is the Government's policy on the proportion of Government debt to be sold to the banking sector. [24799]

Ruth Kelly

The Government do not have a specific policy on the proportion of their debt sold to the banking sector. Government debt is sold via auctions, which are open to all bidders via the gilt-edged market-makers. The Government do not influence the proportion of debt that is sold to a particular type of investor.