Counting the Family Silver: The Public Sector's Balance Sheet 1957 to 1987

Abstract

Policies which affect the balance between the public sector's assets and its liabilities have been major concerns of the last few years. Instead of a Public Sector Borrowing Requirement (PSBR), we currently have a Public Sector Debt Repayment (PSDR), and much is being made of the consequent reduction in the nominal value of the National Debt. Public sector capital spending has been under tight restraints. Significant parts of the public sector's assets have been sold through the privatisation of former public corporations like British Telecom and through the sale of council houses under the Right to Buy.