The UK government generally spends more than it raises in tax. To fill this gap it borrows money, but that has to be paid back - with interest. The government gets most of its income from taxes. For ...

Governments generally spend more than they raise in tax so they borrow money to fill the gap, usually by selling bonds to investors. As well as eventually paying back the value of the bond, ...

Treasury's doubled buyback program is funded by selling short-term bills. That creates no new money, but it shortens the debt and puts a fiscal hand on long-term rates.