More Transparent Government Accounts

[petagny]

The UK is changing the basis for government accounts today. From now on, the accounts will include liabilities like pension obligations for public sector employees and the future stream of payments due on the many private finance initiatives.

http://www.ft.com/cms/s/0/58971c24-a980-11e0-a04a-00144feabdc0.html#axzz1RmCI257l

[petagny]

Here's a good summary by Richard Hughes of the improvements in accounting introduced in the UK through the Whole-Of-Government accounts:


http://blog-pfm.imf.org/pfmblog/2011/07/whole-of-government-accounts-batman.html#more