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Economy & public finances

United Kingdom — Treasury cover for Bank of England QE losses

Payments by HM Treasury to the Bank of England's Asset Purchase Facility to cover the losses on its government-bond purchases (quantitative easing), as % of GDP, since higher interest rates turned them into losses (late 2022). Between 2012 and 2022 the flows went the other way: the facility passed its surpluses to the Treasury. Source: ONS public sector finances (series MF7A), divided by nominal GDP (YBHA).· From 2012 to 2022 the flows ran the other way (APF surpluses to the Treasury), not shown
0.6% GDP
2025
−0.8 ptsvs 2024
min 0.0 2000max 1.5 2024
% GDP
Range
Source: Office for National Statistics — Public sector finances (MF7A / YBHA)· Data 2025Source type : Official
Treasury payments to the Bank of England APF · From 2012 to 2022 the flows ran the other way (APF surpluses to the Treasury), not shown · Upd. 10/2026
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