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The People and the Budget: Empowering Public Understanding of Public Finances
Facing record public debt and mounting spending pressures, OECD countries must look beyond traditional tools to secure fiscal sustainability: it can no longer be achieved without public buy-in. This report highlights that empowering public understanding is now an essential component of modern budgeting. It outlines a strategy based on four pillars: 1) demystifying the budget for key decision makers; 2) communicating public finances clearly; 3) fostering genuine citizen engagement to build legitimacy; and 4) transforming independent fiscal institutions into proactive fiscal advocates. Ultimately, the report contends that generating political will for necessary reforms requires moving budget discussions out of the purely technical realm and cultivating a shared public understanding.
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