1. Introduction
Our economic statistics are produced in accordance with international rules and guidance. Central to this are the legally binding rules set forth in the European System of Accounts 2010: ESA 2010, and accompanying Manual on Government Deficit and Debt (MGDD). These include rules on classifying statistical units (organisations or bodies) and the transactions they engage in. A summary of these, and our approach to their application, can be found on our Economic statistics classification page.
The forward work plan (XLS, 68.5KB) sets out the units and transactions that we expect to assess and classify in the next 12 to 18 months. There is high demand for classification assessments and at any one time we progress many active cases, with new cases often arising. These include confidential assessments of government and devolved administration policy proposals as explained in our classification process. We do not announce or discuss such policy proposal assessments in order to give policymakers the space to develop policy. At such a time that a policy is implemented we will publish a classification decision.
As such, the forward work plan does not cover all cases that will arise over the next 12 to 18 months; minor cases (with smaller statistical and policy impacts) will be assessed as resources allow. The cases scheduled in this article have been prioritised because of:
- the impact they will have on important statistics
- their importance to public policy
After EU withdrawal
As the UK leaves the EU, it is important that our statistics continue to be of high quality and are internationally comparable. During the transition period, those UK statistics that align with EU practice and rules will continue to do so in the same way as before 31 January 2020. This approach also applies to the classifications process.
After the transition period, we will continue to be guided by the UK Statistics Authority’s Code of Practice for Statistics and act in accordance with internationally agreed statistical guidance and standards.
To ensure comparability with other countries, the classifications process will continue according to the existing definitions and standards until further notice, or until those standards are updated.
Back to table of contents2. Impacts on fiscal aggregates
Approximate potential impacts on fiscal aggregates are given in the forward work plan. The fiscal aggregates are:
public sector net borrowing and public sector net debt for the UK
general government consolidated gross debt and general government net borrowing for European measures
The impact described would occur only if an organisation’s classification status changes from public to private sector (or the other way around), or if a new organisation is classified to the public sector. Transactional classifications can also affect the fiscal aggregates.
For indicative impacts on fiscal aggregates, the following definitions are used:
small: less than £100 million change
medium: between £100 million and £1 billion change
large: more than £1 billion change
This month, we have also reviewed all cases previously listed against these criteria. As a result of this exercise, we have removed cases that are either no longer deemed a priority or are unlikely to be concluded within the next 12 months. However, it should be noted that further cases will be added over the coming months to reflect our priorities for the next year.
Back to table of contents3. Additions and deletions to the forward work plan
There are no additions to the forward work plan this month.
Deletion from the forward work plan this month:
- Pool Re