Planning for the future effectively requires more than thinking about expected future events. We also need to consider how other scenarios could markedly change our overall situation. An integrated approach is essential to prioritise well and to maximise our chances of avoiding setbacks and capturing opportunities. The Government has taken a major step forward in its future planning by publishing an overview of its plans for 57 key fiscal risks to our public finances and hence our whole economy. Colin Wilson looks at this effort and how it can be built on further.
Openness about government plans is a key part of what has been achieved. Another form of openness, responsible sharing of information by some public service pension schemes, has led to benefits for public and private spheres of the pension and life insurance industries. Jenny Bullen explains this in more depth.
Finally, we at GAD are opening up our knowledge of developments in understanding how long we may live. We regularly apply this knowledge to help inform public sector decision making, and our new bulletin will support this further.