§ Mr. Watkinson
asked the Chancellor of the Exchequer what value of gilt-edged securities he must sell now to meet the borrowing requirement for 1976–77.
§ Mr. Denzil Davies
The public sector borrowing requirement (PSBR) is financed by a number of different methods, and it is not possible to predict precisely what proportion will be met by each method. The high levels of gilt sales to the non-bank public in the last few months have financed a large part of the 1976–77 PSBR.