Guidance

Guidance for managing government’s implicit liabilities

Guidance for how departments should identify and mitigate private sector costs that could fall to government in a crisis.

• From: HM Treasury
• Published: 26 November 2025

Documents

Guidance for managing government’s implicit liabilities

Ref: ISBN 978-1-917638-77-7

PDF, 804 KB, 45 pages

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Details

This guidance sets out an approach to managing implicit liabilities, namely where private sector liabilities may fall to government during crisis events or shocks. It sets out how government can proactively identify and mitigate implicit liabilities, reduce the need for government to step in, and limit the costs that fall to government. The guidance sets out departmental responsibilities for implicit liability management and provides a toolkit for departments to develop and implement successful mitigation strategies. It is supported by the £15 million Implicit Liability Management Fund.

Published 26 November 2025