Fiscal Sustainability Report
Executive Summary (excerpt)
In the Fiscal sustainability report (FSR) we look beyond the medium-term forecast horizon of our twice-yearly Economic and fiscal outlooks and ask whether the UK’s public finances are likely to be sustainable over the longer term. 2 In doing so our approach is twofold:
- first, we look at the fiscal impact of past government activity, as reflected in the assets and liabilities on the public sector’s balance sheet; and
- second, we look at the potential fiscal impact of future government activity, by making 50-year projections of all public spending, revenues and significant financial transactions, such as government loans to students.