Function 2 · Fiscal policy

Future-proofing public finances by redesigning the tax system for net zero and climate resilience

Preparing for changes in fossil fuel revenues and managing the fiscal risks associated with climate change and the transition.
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The two sub-areas
F2b(i)

Identifying alternative revenue streams to taxing fossil fuels

Assessing exposure to declining fossil fuel revenues and developing alternative revenue sources as the economy changes.
F2b(ii)

Managing the fiscal risks of cascading contingent liabilities

Identifying and managing climate risks that create pressures on public finances to help protect fiscal stability and preserve budget flexibility.

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