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<p>The Government is committed to ensuring debt is on a sustainable footing. This
is reflected in the Prime Minister’s priority to reduce national debt in the medium
term and the legally binding fiscal rule to have debt as a share of GDP to be projected
to fall in the fifth year of the forecast horizon.</p><p> </p><p>The independent OBR
assesses performance against the fiscal rules twice a year alongside each fiscal event.
In March 2023, the OBR confirmed that the fiscal rules had been met with debt falling
as a percentage of GDP in 2027-28. The OBR will publish an updated economic and fiscal
forecast on 22 November alongside the Autumn Statement</p><p><strong> </strong></p><p>In
the Charter for Budget Responsibility, the Government requires the OBR to publish
an annual Fiscal Risks and Sustainability report, which includes long-run projections
of the Government finances. The government will respond to the latest FRS at a future
fiscal event. To manage longer-term spending pressures and maintain high quality public
services, the Chancellor has recently announced a major public sector productivity
programme.</p>
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