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Forecast in detail
Publication year - 2020
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/1468-0319.12506
Subject(s) - debt , asset (computer security) , economics , government (linguistics) , monetary economics , action (physics) , scale (ratio) , economic policy , financial system , business , finance , linguistics , philosophy , computer security , computer science , physics , quantum mechanics
The scale of fiscal support to the economy since the onset of the coronavirus pandemic, and the plunge in tax receipts triggered by action to contain the virus, have driven up public sector borrowing to wartime proportions. But with demand for UK government debt high, helped by an expansion of asset purchases by the Bank of England, financing the extra debt is taking place under very favourable conditions.