This report from the CLCC brings together, for the first time, a complete view of the UK Government’s exposure to financial guarantees, indemnities, contingent liabilities, and provisions.
22 November 2023 4.34 MB
The report aims to:
- Identify the scale of contingent liability risk held by government
- Categorise the risk by identifying beneficiaries and concentrations to better understand the overall composition of the portfolio
- Determine whether government charges adequately for the risk it takes on
- Consider how to improve value for money across the portfolio
This work demonstrates government’s commitment to fiscal discipline, transparency and efficiency.
“For the first time, this report constructs data that enables government to view the portfolio of exposure, as opposed to a bottom-up department led process, and thereby consider the impact from a potential cost perspective. The data is crucial to allow government to understand and manage exposure, information which has never before been available. As a result of the work the CLCC has undertaken, we can now provide enhanced transparency across a range of liabilities.”
Siobhán Duffy, Director Contingent Liability Central Capability
This report is a significant step forward in government’s ability to manage these risks on behalf of taxpayers. It is one facet of the Contingent Liability Central Capability’s work to examine, report and advise on government’s contingent liabilities. Read more about CLCC’s work on the website page https://www.ukgi.org.uk/what-we-do/contingent-liabilities/