Short-term Fiscal Intentions and Long-term Fiscal Objectives
The Public Finance Act 1989 requires that the Fiscal Strategy Report (FSR) state the Government's long-term fiscal objectives, for 10 years or more, for operating expenses, operating revenues, the balance between operating expenses and revenues, the level of debt and the level of net worth. The Government is also required to indicate short-term fiscal intentions for those variables for at least three financial years. Our short-term fiscal intentions and long-term fiscal objectives are consistent with the principles of responsible fiscal management, as set out in section 26G(1) of the Public Finance Act 1989. These intentions and objectives are formally laid out in Annex 2.
- Figure 12 – Total Crown operating balance (before gains and losses)
- Source: The Treasury
