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Treasury bond ‘black hole’ costing households nearly £9,000, Labour analysis finds
A general view of the Bank of England in central London, August 1, 2023
A TREASURY bond fund “black hole” is costing each household in Britain nearly £9,000, a Labour Party analysis revealed today.
The Asset Purchase Facility (APF) fund was created in 2009 and originally designed to profit from the Bank of England’s quantitative easing programme to help Britain’s recovery from the financial crisis.
The Bank bought up hundreds of billions of pounds’ worth of government bonds and other assets held by banks, pension funds and other finance companies, providing them with a liquidity source in an otherwise frozen market.
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