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Rob Whiteman, CEO of CIPFA said:
“I applaud the Government for publishing these accounts. It provides a basis for sound financial decision making that is unique in the world.
“This could give the UK a real competitive advantage but policy makers still prefer the inaccurate statistical methods they are used to. It’s time the Treasury brought national financial planning in to line with professional standards.
“The whole of government accounts must be produced earlier to inform the Autumn Statement. Delays this year were due to a shocking lack of record keeping in academy schools which must be remedied urgently.
“Since 2010/11 Public sector pension liabilities have increased from £961bn to £1.5tn despite government action. This is dangerously unsustainable and those who obstruct reform now are likely seeding the collapse of entire system in decades to come.
“While liabilities for clinical negligence claims against the NHS have not increased for the first time since 2006/07, the contingent liabilities have increased from £11.9bn in 2013-14 to £14.0bn in 2014/15, suggesting that significant problems have been stored up for the future.”
Download the Whole of Government Accounts.