HYEFU: Big bump to bond programme

An extra $20 billion of bonds will be issued in the next four years. (Image: Getty)

Tue, 17 Dec 2024

The weaker outlook for fiscal consolidation is driving a $20 billion addition to the government bond programme over the next four years, compared to the Budget in May.The programme for 2024/25 is $2b higher than in the Budget at $40b, and rises by $4b, $6b, and $8b in each of the following fiscal years through to 2027/28.The 2028/29 bond programme appears for the first time with a programme to raise $22b.The increased size of the programme is considerably larger than was anticipated by financial markets.“It’s the only real surprise...

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