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United Kingdom: Fiscal Transparency Evaluation

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  • International Monetary Fund

Abstract

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, the United Kingdom meets 9 principles at the basic level, 10 principles at the good level, and 23 principles 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.

Suggested Citation

  • International Monetary Fund, 2016. "United Kingdom: Fiscal Transparency Evaluation," IMF Staff Country Reports 2016/351, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2016/351
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=44395
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    Cited by:

    1. David Heald & Ron Hodges, 2018. "Accounting for government guarantees: perspectives on fiscal transparency from four modes of accounting," Accounting and Business Research, Taylor & Francis Journals, vol. 48(7), pages 782-804, November.

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