By Paul Davies and Michael Green

The Autumn Statement (the Statement) highlighted sustainability of public finance as key to securing a strong and stable economy for the UK. The need to prioritise longer-term sustainability schemes over short-term economic gain was also referred to by the Environmental Audit Committee (EAC) in a recent report.

The Statement, which is the last of its kind, does introduce a new fiscal framework designed to make public finances more sustainable, while providing the flexibility required to support the economy in the short-term.