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- This is a ‘net’ measure in the sense that the public sector’s liquid assets (effectively money in the bank) are netted off against total liabilities.
blog.ons.gov.uk/2023/04/21/what-the-uk-government-owns-and-what-it-owes/
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What is public sector net worth?
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What is public sector net worth (psnw)?
Apr 21, 2023 · The main debt measure used by the government as a fiscal target, and the one most looked at by economic commentators, is ‘public sector net debt excluding public sector banks’ (‘PSND ex’ for...
- National balance sheet estimates for the UK - Office for ...
General government net worth increased in 2021 for the first...
- National balance sheet estimates for the UK - Office for ...
- Statistical Framework
- Public Sector Boundary
- Coverage of Assets and Liabilities
- Valuation
- Presentation and Periodicity
- Summary of Relationship with Other Measures
- Reconciliation with IMF Gfsm-Consistent Psnw
The UK’s core fiscal statistics are conceptually based on the UK National Accounts (while maintaining some technical differences), which are in turn based on the ESA 2010 framework. The new measure will be compliant with ESA 2010 – as is the existing National Balance Sheet (NBS) aggregate – but will also be consistent with the public sector finance...
In line with the sector coverage of the PSF statistics, the new measure would include the assets and liabilities of central government, local government, public non-financial corporations and public financial corporations (including funded public sector pension schemes and the Bank of England). As is the case for existing fiscal aggregates, we woul...
The new PSNW measure would include all assets and liabilities covered by the ESA 2010 framework, where these data are available (see Section 3 for a discussion of data availability). Being an internationally-recognised statistical aggregate, an ESA-based PSNW can only include assets and liabilities within the scope of the statistical framework, alt...
The largest component of liabilities is debt securities issued by central government. Debt securities can be measured at market, face or nominal value. The PSF statistics follow Eurostat’s Manual on Government Deficit and Debt (MGDD) 2019 and value debt securities at face value. The new PSNW measure would record them in the same way. It is possible...
An ESA-based PSNW will be part of an integrated presentation of the public sector balance sheet. As detailed in the previous sections, we will limit presentation of supplementary versions of PSNW; however, we will present full reconciliation with other measures, including IMF GFSM PSNW. PSNFL is currently produced on a quarterly basis and is publis...
The most important substantive differences between the new measure and existing measures of public sector net worth can be summarised as follows. Sectoral coverage: 1. the new measure of PSNW will define the public sector as central government, local government, public non-financial corporations, and public financial corporations, including the Ban...
We will continue to produce IMF GFSM-consistent statistics, including IMF GFSM PSNW, as supplementary to the PSF statistics. Where improvements to balance sheet data are made, particularly to the non-financial balance sheet (see Section 3), these will be applied across both ESA- and IMF GFSM-based measures. The IMF GFSM public sector balance sheet ...
Jan 23, 2023 · General government net worth increased in 2021 for the first time since 2018, however, it remains at negative £1.4 trillion with financial liabilities exceeding total assets. This bulletin...
16 hours ago · The Chancellor said had the UK economy grown at the average rate of OECD economies over the fourteen years from 2010, it would be £143.3 billion larger – worth £5,053 for every household in ...
“Public sector net worth, or PSNW, is a relatively comprehensive measure of the total value of the public sector’s assets, both financial and non-financial, minus its liabilities. This is broader than the more familiar ‘public sector net debt’.
Oct 7, 2023 · At the 2019 general election, the Labour party pledged to ‘improve public sector net worth over the course of the Parliament’ (McDonnell, 2019), and it has more recently made a softer pledge to ‘take greater account of public sector assets as well as debt in fiscal policy’ (Labour Party, 2022).
Apr 27, 2023 · Public sector net worth, or PSNW, is a relatively comprehensive measure of the total value of the public sector’s assets, both financial and non-financial, minus its liabilities. This is broader than the more familiar ‘public sector net debt’.
