The WGA 2018–19 disclosures relating to COVID-19 relied heavily on a summary of a report produced by the National Audit Office.10 The Treasury did not attempt to explain to Parliament or the user of the accounts how it was managing the fiscal risk COVID-19 poses for the economy, nor how it may impact the government’s fiscal position going forwards. In our evidence session the Treasury reiterated its position that it views the WGA as a backward-looking, retrospective document and said that whi...

The WGA 2018–19 disclosures relating to COVID-19 relied heavily on a summary of a report produced by the National Audit Office.10 The Treasury did not attempt to explain to Parliament or the user of the accounts how it was managing the fiscal risk COVID-19 poses for the economy, nor how it may impact the government’s fiscal position going forwards. In our evidence session the Treasury reiterated its position that it views the WGA as a backward-looking, retrospective document and said that while it wants to set out the risks across government and how these risks were mitigated and controlled, it was not convinced that the WGA was the best plac Type: conclusion | Number: 7 | Response status: under_consideration Government response: 1.1 The government agrees with the Committee’s recommendation. Target implementation date: Autumn 2021 1.2 The government is committed to transparency on fiscal risks and welcomes independent scrutiny of risk exposure. Every year the Office for Budget Respon