United Kingdom: Fiscal Transparency Evaluation
IMF Staff Country Reports, November 16, 2016
Source details
- Canonical URL
- United Kingdom: Fiscal Transparency Evaluation
Other formats
Bibliographic details
- Published: November 16, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475553451.002
Summary of assessment
- This report assesses fiscal transparency practices in the United Kingdom in relation to the requirements of the IMF’s new Fiscal Transparency Code (FTC).
- Across all pillars evaluated in the code, the United Kingdom scores very highly when compared with other countries that have undergone an assessment.
- Of the 48 principles in the FTC:
- 9 principles are met at the basic level.
- 10 principles are met at the good level.
- 23 principles are met at the advanced level.
- Fiscal transparency practices are strongest in the area of fiscal reporting and resource revenue management.
- In four principles, the United Kingdom’s transparency practices do not currently meet basic practice.
Key statistics and metadata
- Pages: 88
- Volume: 2016
- Issue: 351
- Series: Country Report No. 2016/351
- DOI: https://doi.org/10.5089/9781475553451.002
- Stock No: 1GBREA2016018
- ISBN: 9781475553451
- ISSN: 1934-7685
- Publication date on landing page: November 16, 2016
- Format noted: IMF Staff Country Reports
Subject coverage and keywords
- Subject areas:
- Budget planning and preparation
- Economic sectors
- Expenditure
- Financial statements
- Public financial management (PFM)
- Public sector
- Revenue administration
- Keywords included in the source:
- accounts payable, assets liability, balance sheet, Budget planning and preparation, cash flow, central government, CR, cross holdings, Europe, Eurostat government finance statistics, financial crisis, Financial statements, financial year, Global, government guarantee, government payment, investment strategy, ISCR, market price, nominal GDP, policies mirrors problem, Public sector, tax loss, tax revenue, UK authorities, unsecured debt
Notable findings and emphasis
- Strongest areas:
- Fiscal reporting
- Resource revenue management
- Overall evaluation:
- Very high scores across FTC pillars relative to other assessed countries.
- A total of 42 of 48 FTC principles are met at basic, good, or advanced levels (9 basic + 10 good + 23 advanced = 42).
- Outstanding shortcomings:
- Four FTC principles do not meet basic practice (the landing page does not specify which four).
International Monetary Fund. Fiscal Affairs Dept. "United Kingdom: Fiscal Transparency Evaluation", IMF Staff Country Reports 2016, 351 (2016), accessed 9/11/2026, https://doi.org/10.5089/9781475553451.002
Content in this bundle
- United Kingdom: Fiscal Transparency Evaluation; IMF Country Report 16/351; November 2016