Public finances end financial year in weak position
Net debt represents a growing fiscal mortgage of £92,000 per UK household as a difficult financial year comes to a close.
Many ICAEW members work in or with the public sector to deliver public priorities and strong public finances. ICAEW acts in the public interest to support strong financial leadership and better financial management across the public sector – featuring transparency, accountability, governance and ethics – to ensure that public money is spent wisely and that public finances are sustainable.
Join the Public Sector CommunityNet debt represents a growing fiscal mortgage of £92,000 per UK household as a difficult financial year comes to a close.
New committee needed to scrutinise sensitive government expenditure, says PAC
Our chart this week finds that the UK is ranking highly in the IMF’s latest five-year forecasts for general government net debt.
The former PwC partner and now Jersey’s Comptroller and Auditor General on why tackling the local audit crisis hinges on audit firm leaders valuing the public sector audit discipline better.
This year’s ICAEW Achievement Award winner, Edward ‘Eddie’ Ouko, faced huge resistance in his role as Auditor-General of Kenya. Despite the threats, he stood his ground.
Public spend as a share of the economy must fall over the next five years to make the sums add up – a big challenge for the next government.
The International Public Sector Accounting Standards Board (IPSASB) held their first meeting of the year in New York with a number of interesting projects to report back on, including sustainability reporting and presentation of financial statements.
Now that the dust has settled on last month’s Spring Budget, ICAEW has published a more detailed analysis on the implications for the public finances.