Reforming public services and narrowing the fiscal gap
Exceptional times require exceptional responses. The UK's public finances are under severe strain due to the effects of the global financial crisis and the deepening UK recession.
Higher public borrowing is inevitable in the short term, but government has a responsibility to plan now to put the public finances back on a sustainable basis in the medium term.
This new report addresses the strain on UK public finances due to the global financial crisis and the current recession, and makes recommendations for closing an estimated Â£43 billion fiscal gap in 2013/14.