Public Sector Net Cash Requirement

Formerly known as Public Sector Borrowing Requirement (PSBR), PSNCR is the difference between the expenditure of the public sector and its income. Where there is a deficit it is financed by borrowing - principally via the sale of government gilt edged stocks (gilts).

Public sector net borrowing also measures the difference between the expenditure and income of the public sector but differs from the net cash requirement in that it is measured on an accruals basis whereas the net cash requirement is mainly a cash measure.

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