The Chancellor announced today that the excess cash held at the Bank of England’s Quantitative Easing facility will be transferred to the Exchequer. This notice sets out our initial take on what this means for the public finances. We will make a more detailed assessment on the impact on the public finances when we publish our next Economic and fiscal outlook, on 5 December. More information on the announcement can be found on the HM Treasury website at: http://www.hm-treasury.gov.uk/ukecon_mon_index.htm
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