This month the Office of Budget Responsibility (OBR) issued its annual Fiscal Sustainability Report.
The OBR was set up by the Coalition to provide an independent view on the nation’s finances. Its latest report makes bleak reading (see here and here for two broadly similar accounts from right and left respectively). Basically, as Telegraph Economics Editor Philip Aldrick puts it, “in the long run we’re all skint.”
The Fiscal Sustainability Report powerfully frames the questions we face over the future of welfare: for anyone interested in this debate it is worth a look.