How can government improve the UK's fiscal sustainability and resilience?

The Institute for Government was delighted to host an event with the Office for Budget Responsibility to discuss their new Fiscal Risks and Sustainability Report. While the economic shocks of the Covid pandemic and Russia’s invasion of Ukraine have been huge, there are many other factors likely to change the shape of the UK state and the demands placed on it in future. Some – such as the ageing of the population and the shift towards net zero carbon emissions – can be anticipated; others – such as the impacts of unabated climate change and possible future geopolitical instability – are harder to predict with certainty. This event opened with a short presentation by Richard Hughes, Chair of the OBR, on the main findings in the report followed by a panel discussion on the major challenges facing the UK and how the government can best prepare for these. Our panel included: Professor Malcolm Chalmers, Deputy Director-General of RUSI Rosa Hodgkin, Researcher at the Institute for Government Richard Hughes, Chair of the Office for Budget Responsibility Professor Andrew Scott, Professor of Economics, London Business School. The event was chaired by Dr Gemma Tetlow, Chief Economist at the Institute for Government. #IfGeconomy