British traders are bracing for Reeves to unveil £293bn debt sale

Bond traders expect the UK to unveil one of its biggest borrowing plans as chancellor this week. Rachel Reeves is trying to balance his government’s promise to stimulate economic growth with calls for fiscal discipline.

The Debt Management Authority is expected to announce on Wednesday that it will increase gold bond issuance by 15 billion pounds ($19.5 billion) this fiscal year, according to the average estimates of 16 primary dealers. This will take total borrowing to £293 billion, the highest for any year other than 2020, which was distorted by the response to the pandemic.