Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what criteria her Department plans to use for determining the future scalability of the Digital Gilt Instrument issuance model beyond the pilot phase.

At Mansion House the government set out an update on the DIGIT pilot, outlining a range of ambitious design features the government intends to take forward and encourage as a part of the DIGIT pilot.

These design features include testing on-chain settlement, supporting interoperability, delivering greater transparency, and working with the sector to encourage the future development of secondary markets and solutions to enable collateral mobility.

These features reflect feedback from stakeholders, including across the financial services sector, received as part of the government’s market engagement exercise that closed in April 2025.

The government is committed to ongoing work with the sector to ensure the success of the DIGIT pilot both in terms of the issuance itself and its wider impact.

The priority at this stage is delivering the pilot and no decisions have been made on further issuances.

As the government has set out previously, the pilot DIGIT issuance will be separate from our standard debt issuance programme.