| 单词 | Public Sector Net Cash Requirement |
| 释义 | Public Sector Net Cash Requirement Public Sector Net Cash Requirement(PSNCR) The amount by which UK government expenditure exceeds its income (i.e. the public sector deficit); this must be financed by borrowing (e.g. by selling gilt-edged securities). As an indicator of government fiscal policy the PSNCR has acquired increased status since the late 1970s. By that time many economists had come to believe that a high PSNCR is not only inflationary but also has the effect of raising interest rates, reducing private investment, and ‘crowding out’ private expenditure. Concern about the high level of the PSNCR again became acute in the wake of the financial crash of 2008, leading the Conservative-led government to embark on a controversial austerity programme from 2010. The PSNCR was formally known as the Public Sector Borrowing Requirement (PSBR). |
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