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17 July 2013

Fiscal sustainability report – July 2013

Our annual Fiscal sustainability report sets out long-term projections for spending, revenue and financial transactions, and assesses whether they imply a sustainable path for public sector debt. The FSR also analyses the health of the public sector’s balance sheet using both conventional National Accounts measures and the Whole of Government Accounts prepared using commercial accounting principles.

pdf

Fiscal sustainability report – July 2013

July 17, 2013 – 1.57 MB

Supporting documents

  • pdf

    Fiscal sustainability report - Executive summary July 2013

    July 17, 2013 – 690.60 KB
  • xls

    Fiscal sustainability report - Supplementary data series July 2013

    July 17, 2013 – 362.00 KB
  • xls

    Fiscal sustainability report - Main charts and tables July 2013

    July 17, 2013 – 2.73 MB
  • pdf

    Log of substantive contact between the Office for Budget Responsibility and Treasury Ministers, Special Advisers and their private office staff between 21 March 2013 and 17 July 2013

    July 17, 2013 – 47.71 KB
  • xls

    Fiscal sustainability report - data sources July 2013

    July 19, 2013 – 130.00 KB

Supplementary documents

Information or data which has been released as a result of external requests, since the original publication of the main document.

  • xls

    Detailed benefits and tax credits projections - Fiscal sustainability report July 2013

    May 23, 2014 – 39.00 KB

Presentations

  • pdf

    Fiscal sustainability report - speaking notes July 2013

    July 17, 2013 – 260.98 KB
  • pdf

    Fiscal sustainability report - presentation slides July 2013

    July 17, 2013 – 227.65 KB

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Boxes

Within each of our key publications we include topical ‘boxes’. These self-contained analyses are unique to this publication and tend to cover recent developments in the economy or public finances that complement the main discussion of our analyses.

Fiscal sustainability report - July 2013 | Box: 2.1 | Page: 36

QE and APF in WGA and the National Accounts

QE and APF in WGA and the National Accounts
In 2013 the National Accounts measure of PSNB and PSND widened to include Bradford and Bingley and Northern Rock (Asset Management), and also included the APF transfers from the BEAPFF to central government. This box explained how the QE and APF transactions are treated in WGA and in the National Accounts, and the differences between them.

Fiscal categories: Financial transactions, Asset Purchase Facility, Whole of Government Accounts and National accounts

Cross-cutting categories: Monetary policy

Fiscal sustainability report - July 2013 | Box: 3.1 | Page: 67

The preliminary results of Census 2011

The ONS updates its population projections every two years based on mid‑year population estimates but every ten years it can draw on the latest census results. Census 2011 suggested that there were around half a million more people in the UK in 2011 than assumed in the population projections at the time, among other compositional changes. This box outlined some of the key findings from the census data and the impact this might have on our future projections.

Economy categories: Population and migration, Labour market

Cross-cutting categories: Demographics

Fiscal sustainability report - July 2013 | Box: 3.2 | Page: 74

Fiscal drag and price uprating

Fiscal drag and price uprating
We updated our 2012 analysis of fiscal drag on income tax and NICs to reflect new data, our latest assumptions and the effect of measures announced over the past year. This box outlined how fiscal drag effects income tax and NICs receipts and the long-term assumptions used.

Fiscal categories: National Insurance Contributions, Income tax, Student loans, State pension, Public spending, Receipts, Welfare spending, Financial transactions

Cross-cutting categories: Fiscal drag and price uprating, Pensions

Fiscal sustainability report - July 2013 | Box: 5.1 | Page: 124

Post-World War II debt reduction

Post-World War II debt reduction
In assessing indicators of sustainability we examined the role of the gap between the real interest rate on government debt and the long-run growth rate of the economy. This box outlined the reasons behind Post-World War II debt reduction.

Fiscal categories: Public sector net debt

Fiscal sustainability report – July 2012
Fiscal sustainability report – July 2014

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