"It is the duty of the Office to examine and report on the sustainability of the public finances"
Since the publication of our July 2023 Fiscal risks and sustainability (FRS) report, we have received a request for further detail on our long-term fiscal projections. We have published this new supplementary forecast information below and on the July 2023 FRS page.
Richard Hughes distils the key messages from our latest Fiscal risks and sustainability report in his press conference presentation and accompanying speaking note.
In the few years since the ‘once in a century’ shock caused by a global pandemic, rising health-related economic inactivity from 2020, energy prices from 2021 and interest rates from 2022 have placed further pressure on an already-challenging outlook for the public finances – pushing public debt above 100 per cent of GDP and the…
Our latest report on Fiscal risks and sustainability (FRS) will be published on Thursday 13 July. The 2023 FRS report will focus on three current pressures on the public finances: Inactivity and health, where we will consider the role of health in explaining the recent increase in labour market inactivity, analyse its impact on tax…
Several of the UK’s tax bases are directly linked to activities that generate greenhouse gas emissions, with others indirectly linked. So as emissions fall as the UK transitions to net zero, receipts generated from these emissions-linked taxes will be affected. In this working paper, we conduct an initial, high-level analysis to explore the proportion of…
Richard Hughes distils the key messages from our first Fiscal risks and sustainability in his press conference presentation and accompanying speaking note.
It is hard to escape the conclusion that the world is becoming a riskier place. The past two decades have seen a global financial crisis, a global health crisis, and a global energy crisis triggered by Russia’s invasion of Ukraine. These global shocks add to ageing and other domestic cost pressures to place public debt…
Our two biennial reports on the long-term sustainability of the public finances (Fiscal sustainability report) and fiscal risks facing the UK (Fiscal risks report) will be combined into a single annual report for the first time this summer. Our first report on Fiscal risks and sustainability will be published on Thursday 7 July. The 2022…