Next Tuesday, ICAEW will host the launch of the Institute for Fiscal Studies’ 2018 Green Budget. This is the authoritative pre-Budget report on the outlook for the UK economy supported by in-depth analysis on the options available to the Chancellor.
The ICAEW has again contributed two chapters, the first of which is on the subject of public assets, complementing the chapter we did last year on liabilities. In the past the government focused on a narrow range of fiscal measures, however with the advent of the Whole of Government Accounts it has started to think about the wider public balance sheet.
This year’s Budget is scheduled to include a progress report on the Balance Sheet Review being undertaken by HM Treasury to look at ways public assets can be used more effectively, be freed up for other uses, or generate better returns. As our chart of the week illustrates, the UK’s £1.9 trillion (94% of GDP) of public assets are dwarfed by £4.3 trillion (214% of GDP) in public liabilities. With many public assets not readily saleable, effective asset management is more important than ever.
You can find out more about the 2018 IFS Green Budget event next Tuesday and register for your free place to attend at: https://lnkd.in/gu-PKEU.