31
OBR projections indicate public debt will triple within 50 years, necessitating policy changes.
Conclusion
We challenged the Treasury on how seriously it is taking the sustainability of government finances, to which it stated that it was taking the matter very seriously. It commented that the OBR’s fiscal sustainability report includes a 50–year forecast and looks at what happens if everything stays the same. Based on current policy and the latest demographic projections, the OBR estimate public debt is projected to almost triple from under 100% of GDP to over 270% of GDP over the next 50 years.68 The main takeaway from that–given the issues of an ageing population, demands on healthcare, and climate damage – being that some things are going to have to be done differently.69
Government Response
A response document is linked to this report, dated 16 May 2025. Response attribution to this conclusion has not been verified. Read the response document.
Source
Committee
Public Accounts Committee
Report
16th Report - Whole of Government Accounts 2022-23
19 Mar 2025
HC 367
Addressee Bodies
HM Treasury
Timeline
Recommendation age
1.5 yrs
Report published
19 Mar 2025