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UK economy
End of year fiscal report (November 2008): first published alongside the 2002 Pre-Budget Report, is central to the Government's retrospective reporting and analysis of fiscal issues and builds on the information already published in the Pre-Budget Report and the Budget. This year's report looks at trends in the public finances and fiscal policy in 2006-07 and 2007-08, setting these in an historical context. The report analyses:
The case for a concerted international fiscal response (November 2008): This paper discusses the need for a concerted international fiscal response to the current economic situation. The world economy faces a serious economic downturn arising from the severe dislocation in the financial system. The magnitude and speed of the downturn, and the uncertainty over the effectiveness of monetary policy in current conditions, warrant a substantial fiscal policy response. To be effective this needs to be timely and targeted, and also temporary so as to ensure sound and sustainable public finances in the medium term. A concerted international fiscal response, tailored to each country’s specific situation, would enhance its effectiveness and help build confidence. Action now would help to limit the depth of the downturn and restore growth.
Long term public finance report: an analysis of fiscal sustainability (March 2008): this report provides a comprehensive analysis of long-term economic and demographic developments, and their likely impact on the public finances, in the form of illustrative long-term fiscal projections. The Government believes sustainable public finances are a pre-requisite to achieving high and stable rates of economic growth, which in turn is essential in guaranteeing that everybody shares in the growing prosperity of the country.
The impact of ageing on public expenditure: projections for the EU25 Member States on pensions, health care, long-term care, education and unemployment transfers (2004-2050) (February 2006) (PDF 1.6MB): this report, prepared by the Economic Policy Committee and the European Commission, presents age-related public expenditure projections for all twenty-five Member States covering pensions, health care, long-term care, education, unemployment transfers and, where possible, contributions to pensions/social security systems.
