Australia

Details

  • Industry: Government, Federal Government, State & Territory Governments
  • Type: White paper
  • Date: 23/01/2013

Walking the fiscal tightrope: framework for fiscal sustainability in government 

Walking the fiscal tightrope features a comprehensive analysis of the fiscal policy settings of 19 countries within the G20 group of countries across the budgetary (1-5 years), economic (6+ years) and intergenerational (10+ years) cycles. It concludes that, counter to popular opinion, the roots of the current sovereign debt crisis do not lie solely in the GFC.

Key insights

  • The burden of sovereign debt is overwhelmingly centered in the developed world.
  • Improved commitment by governments to controlling their own finances and living within their means is critical to solving issues in the long term.
  • Fiscal sustainability depends on how governments manage a combination of global economic shifts, existing sovereign debt levels, potentially slower global growth and the impact of intergenerational change on government finances.
  • Governments need to put in place a comprehensive fiscal sustainability framework.

 

 

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