Sell the gold bullion held in the vault in the Bank of England

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Sell the gold bullion held in the vault in the Bank of England

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The Government currently borrows £126 billions on the international markets. To reduce borrowing for the current financial year, the Bank of England should sell the gold bullion held in it's vaults (currently estimated at £30 billions). This gold was used to fix the £sterling exchange rate when £sterling was a fixed currency against other currencies. The £sterling is now a floating currency and the gold is just redundant. It is time use was made of this when gold is at such a high price per ounce.

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