The WGA is not sufficiently focused on long–term financial risk. One purpose of the WGA is to provide a comprehensive picture of the UK’s public sector finances and inform more effective management of fiscal risks. The WGA 2022–23 includes narrative on the fiscal risks published in the OBR’s Fiscal Risks and Sustainability report. In particular, it highlights risks posed by climate change, rising health spending, and geopolitical tensions which are projected to increase pressures on the public finances. The OBR’s report also notes that public sector net debt is expected to almost treble over the next 50 years if current trends continue. However, the WGA does not put this challenge into the context of the current government spending, liabilities and commitments reporting in the WGA or provide the information necessary to allow stakeholders to understand the extent of financial challenges for the UK. recommendation The Treasury should outline how the WGA disclosures will be updated to ensure the long–term financial risks are more transparent and how the information in the WGA will be used to make such improvements. 7 1 Missing and unaudited data Introduction