Is public sector borrowing too high?

A. D. Bain, David N.F. Bell (Editor)

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In recent years the high level of government borrowing has been at the centre of
economic and political debate. On the one hand the public sector borrowing requirement (PSBR) is blamed for record mortgage rates and the threat that industry
may be starved of the funds it needs. On the other, proposals which are likely to cut the PSBR are denounced as deflationary and damaging to living standards. Some claim that a high PSBR is a cause of inflation, whilst others argue that if proper account is taken of inflation the PSBR is much less formidable than it seems. This article attempts to set out some facts about the sources and extent of public sector borrowing and to consider briefly some of the issues involved.
Original languageEnglish
Pages (from-to)30-39
Number of pages10
JournalQuarterly Economic Commentary
Issue number3
Publication statusPublished - Jan 1980
Externally publishedYes


  • public sector borrowing
  • public spending
  • UK economy
  • public sector borrowing requirement (PSBR)
  • inflation


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