Commons Sense

House of Commons · Written Ministerial Statement

Fiscal Risks and Sustainability Report 2022

07 July 2022 · Treasury

Proposed by Simon Clarke Con Middlesbrough South and East Cleveland

Economy

Summarised by AI from the official record, so it can contain mistakes.

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At a glance

Key points

  • Office for Budget Responsibility's Fiscal Risks and Sustainability report 2022 is published
  • UK government will formally respond to the report at a future fiscal event
  • UK has implemented temporary support measures totalling over 37 billion this year

Issue summary

Mr Simon Clarke is discussing the publication of the Office for Budget Responsibility's Fiscal Risks and Sustainability report (FRS) 2022, which examines public finance sustainability and risks.

Action requested

The government will formally respond to the FRS at a future fiscal event. The UK has taken temporary support measures totalling over £37 billion this year, while planning long-term investment of over £600bn in gross public sector spending over five years.

Key facts

  • OBR's Fiscal Risks and Sustainability report (FRS) was published today.
  • Copies of the FRS are available in the Vote Office and Printed Paper Office.
  • The government has spent over £37 billion this year on cost-of-living support.
  • Over £600bn in gross public sector investment is planned over the next 5 years.
  • Long-run productivity growth has been revised up due to the government's plans.
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