Public Sector Net Cash Requirement 

The PSNDR (net debt repayment) is the amount of debt the UK government can pay off in any one period. This occurs where there is a budget surplus,as occurred last in 2001-2 (a negative figure in the table below), because government spending has been less than revenue. The PSNCR is the amount the Government needs to borrow every year to finance shortfalls where expenditure is greater than revenue. In the financial year ending 2015 (April 2014 to March 2015), public sector net borrowing was £88 billion (4.9% of Gross Domestic Product (GDP)) a decrease of £10.8 billion compared with the previous financial year. Trends in the PSNB or PSNCR are given below. source ONS. Notice how our interest payments on national debt have been helped by historically low interest rates – at £45.4bn for 2014-15.