Short-term Fiscal Intentions and Long-term Fiscal Objectives
The PFA requires that the FSR states 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. The Government's 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 PFA. These intentions and objectives are formally laid out in Annex 2.
