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Fiscal Risks and Sustainability

HM Treasury is addressing long-term fiscal sustainability and hidden financial risks in public finances, particularly around pension liabilities, climate change impacts, and rising health spending pressures. The Fiscal Risks and Sustainability Report (published by the Office for Budget Responsibility) identifies emerging threats to fiscal stability, with Treasury responses outlining mitigation strategies and improved financial disclosure through the Whole of Government Accounts.

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12 Oct 2021 | Government response linked

In addition, the budget for the Department’s disposal programme is based on it reducing building costs by £1 billion by 2039–40. This creates risks for the programme’s affordability. For example, as more detailed planning is undertaken and the extent of works is better understood there are indications that the costs of works on sites that will house relocated personnel and equipment are actually increasing rather than falling.36

In addition, the budget for the Department’s disposal programme is based on it reducing building costs by £1 billion by 2039–40. This creates risks for the programme’s affordability. For example, as more detailed planning is undertaken and the extent of …

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