The three big threats to public finances скачать в хорошем качестве

The three big threats to public finances

Is the UK heading for a fiscal crisis? Or can policymakers steer the public finances back to a sustainable path? The Office for Budget Responsibility’s latest Fiscal Risks and Sustainability report warns that, without action, UK government debt could climb above 270% of GDP by the 2070s - driven by rising borrowing, an ageing population, and the fiscal impacts of climate change. In this episode of IFS Zooms In, Helen Miller (Director, Institute for Fiscal Studies) is joined by Richard Hughes (Chair, OBR) and Ben Zaranko (Associate Director, IFS) to explore the forces shaping the long-term outlook for the public finances, the 50 risks highlighted by the OBR, and what can be done now to avoid a crisis later. Become a member: https://ifs.org.uk/individual-membership Find out more: https://ifs.org.uk/podcasts-explainer... 00:00 - Introduction 1:58 - What does fiscal sustainability mean? 2:23 - Debt to GDP 4:53 - Measures of debt 8:10 - Government promises on debt vs reality 13:11 - What are the big risks we're facing? 18:55 - Pensions and the triple lock 25:35 - Fiscal risks of moving to defined contribution pensions 31:05 - Fiscal risks from climate change and net zero 35:05 - Public sector balance sheet 38:43 - What would OBR have been projecting 50 years ago? 42:20 - What can government do to tackle these risks? 45:22 - Conclusion