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#84 Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1)

The MMT Podcast with Patricia Pino & Christian Reilly

CHAPTER

Evolution of UK Government Bond Issuance and Debt Management

The chapter explores the historical background and evolution of UK government bond issuance and debt management from the 1960s to the present day. It discusses the role of the Exchequer, the Bank of England, and the Debt Management Office, highlighting how monetary policy considerations have driven the issuance of Treasury bills and the impact of changes such as the introduction of interest on reserves. The chapter also touches on the Contingencies Fund Act 2020, the process of passing Supply and Appropriations Acts in the UK Parliament, and the application of Modern Monetary Theory (MMT) in controlling prices and increasing employment.

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