This year’s Autumn Statement must move away from short term fixes and focus on a medium term financial strategy

17-11-2016

CIPFA, the Chartered Institute of Public Finance and Accountancy, is calling on the government to use this year’s Autumn Statement to plan for the medium term and move away from short-term financial fixes.

In its summary of the financial priorities for the government ahead of the Autumn Statement next week, CIPFA has outlined key areas that need urgent action, including an assessment of the impacts leaving the European Union will have on all parts of the public sector across England and the devolved nations.

Rob Whiteman, CIPFA Chief Executive, said, “Public bodies need medium term financial solutions and not an annual sticking plaster.

“This has been a year of extraordinary political surprises, both in the UK and abroad, which has meant there is growing uncertainty and mounting problems for the public sector. Public bodies should be given greater flexibility to use the resources on their balance sheets to support service delivery, including flexibility to borrow to invest.”

Given the challenges across the public sector, CIPFA has also called for the government to gain a better understanding of the impacts previous spending decisions have had on the quality and scale of public services and use that knowledge to influence future decisions. 

To support better informed fiscal decision making, CIPFA urges the government to make better use of the Whole of Government Accounts (WGA), which provide a near complete picture of the country’s financial position.

Read CIPFA's full pre-Autumn Statement briefing.