Stop laughing at the left for accurately describing the mechanics of the system. Since 2009, the Bank of England have purchased hundreds of billions of pounds of gilts. At its peak, it owned 34% of the market. The bank said the “reason" for this was to prevent deflation and to provide liquidity in a crisis. This may have been the reason inside of their minds, however a consequence of this policy is that gilt markets were manipulated and that the government was able to spend a huge amount of money it would have otherwise been unable to spend. Whatever narrative the Bank of England or you have about the reason for this policy, it doesn’t matter all that much, anyone can create a narrative. The fact is the government were able to spend so much money because the Bank of England acquired gilts, if the Bank of England didn’t do that, there would have had to be massive spending cuts.