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public sector net cash requirement
The Public Sector Net Cash Requirement (PSNCR), formerly known as the Public Sector Borrowing Requirement (PSBR), is the official term for the Government budget deficit in the United Kingdom, that is to say the rate at which the British Government must borrow money in order to maintain its financial commitments.
The PSNCR is distinct from, but often confused with, the United Kingdom national debt, which is the total amount of money owed by the British Government to its creditors at any given time. The greater the PSNCR, the more the National Debt will tend to increase. The PSNCR is also distinct from the debt interest, which is the amount the UK government must pay annually to finance the existing national debt.
==Financing the PSNCR==
The PSNCR is financed by borrowing - principally by means of the sale of government gilt edged stocks, usually known as gilts.〔(Financial Dictionary ) Retrieved March 2013〕 Since 2009 large quantities of gilts have been created and repurchased by the Bank of England under its policy of quantitative easing, with a view to stimulating economic growth.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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