Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential impact of utilising Public Sector Net Worth as a primary fiscal metric on long-term public infrastructure investment.

The Chancellor and the Prime Minister are united in meeting the fiscal rules, balancing the books with a buffer against uncertainty, controlling borrowing to bear down on inflation and debt interest costs, and reducing long term pressures on our public finances

The investment rule, one of the two key fiscal rules, targets Public Sector Net Financial Liabilities. This captures all financial assets including illiquid ones, recognising the value of assets such as loans and equity that are expected to yield a financial return that pays their debt interest costs

As set out in the Charter for Budget Responsibility, in setting fiscal policy, the Treasury considers a wide range of metrics to inform a full assessment of the sustainability of the public finances. Furthermore, at every medium-term forecast the Office for Budget Responsibility independently analyses and comments on fiscal sustainability, with reference to a set of metrics that includes Public Sector Net Worth.