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Fiscal Risks and Sustainability Report 2022

07 July 2022

Proposing MP
Simon Clarke Con
Middlesbrough South and East Cleveland
Type
Written Ministerial Statement
Department
Treasury
View on Parliament.uk -->

At a Glance

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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