Pre-Budget Report
24 November 2008
The Government’s fiscal framework
In 1997, the Government introduced a new fiscal framework. With evidence supporting the assessment that the economic cycle which started in 1997-98 ended in 2006-07, the Government is able to review the performance of the fiscal framework over a full economic cycle.
Chapter 1 of this document outlines the rationale for the establishment of the framework from 1997, and how it was designed to operate. Chapter 2 assesses its performance over the economic cycle 1997-98 to 2006-07. Chapter 3 outlines how the fiscal framework will respond in current exceptional circumstances
The Government’s fiscal framework is available in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
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