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READ MOREBank of England to extend government overdraft
The Bank of England has agreed to provide the Treasury with an unlimited Ways & Means overdraft to temporarily extend the government’s overdraft facility to help with cashflow caused by emergency funding requirements.
The Treasury and the Bank of England have agreed that the long standing Ways and Means (W&M) facility will be extended as a short-term source of additional liquidity to smooth cashflow as the government implements its 'unprecedented' financial support package to businesses, charities and individuals.
Read more at the Accountancy Daily.
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