We challenged the Treasury over the difficulty that an ordinary reader would have understand the actual movement in large liabilities from year to year.58 Written evidence received from Professor David Heald also noted that the recent volatility of the discount rate used in the valuation of assets and liabilities had made changes in WGA Net Liabilities difficult to interpret.59 51 Q 3 52 Q 4 53 WGA 2022–23 pp68–69 54 Nuclear Decommissioning Authority Annual Report and Accounts 2022–23 p143; Ministry of Defence Annual Report and Accounts 2022–23 p163 55 Nuclear Decommissioning Authority Annual Report and Accounts 2023–24 p149; Ministry of Defence Annual Report and Accounts 2023–24 p156 56 WGA 2022–23 p241 57 Q 68; WGA 2022–23 pp241–242 58 Q 14 59 WGA0002 16 The Treasury acknowledged that discount rates dominate movements in these liabilities, and that reductions in the discounted valuation of the liabilities do not themselves mean that actual future payments, for example to pensioners or for nuclear decommissioning, are reduced. The Treasury commented that the discounted values were of some use. But it also acknowledged that it could do more in the performance report to show future undiscounted liabilities, and that it was right to want to complement existing information to make it more meaningful to the reader.60