International Comparative Study Of Government Fiscal Sustainability Report

Fiscal sustainability refers to the state or ability of the state's finances as an economic entity.Achieving fiscal sustainability should be the goal that governments of all countries pursue relentlessly.However,the financial sustainability of most countries in the world is currently facing challenges,and China is no exception.In recent years,China's fiscal revenue has grown rapidly,but the rate of economic growth has declined.At the same time,it has exposed some issues of sustainable fiscal development,such as population aging,local debt risk,and tax reform.Declining growth rates,as well as increased public spending demand and fiscal deficits.Considering the importance of government fiscal sustainability,some countries have issued independent government fiscal sustainability reports,such as the Long-term Public Finance Report issued by the UK Treasury since 2002,and the Intergenerational Report issued by Australian Ministry of Finance since 2002,as well as the US Government's Comprehensive Long-Term Financial Forecast Report issued by the US Federal Accounting Standards Advisory Committee.At present,China is in the process of reforming the government's comprehensive financial reporting system,and is implementing the comprehensive financial report of the accrual system,which includes the government's financial and economic analysis of the government's medium-and long-term fiscal sustainability analysis.However,as the reform has not been completed,the government's comprehensive financial reporting system has not been fully implemented.The contents and methods of China's long-term fiscal sustainability analysis report have not yet been clarified and unified.Governments at all levels are still in the preliminary exploration stage in the actual preparation process.This paper analyzes the similarities and differences between the fiscal sustainability report of UK,New Zealand and Australia in the aspects of the frameworks,the fiscal sustainability evaluation methods and data sources,and explore the motivations and international status of the fiscal sustainability report,in order to propose to improve China's fiscal sustainability evaluation system.