Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, whether the Government has begun its IMF Fiscal Transparency Evaluation.

On 12 May 2016, Prime Minister David Cameron hosted a landmark international anti-corruption summit in London. A communique setting out a common approach to tackling corruption was agreed by participating countries and, where appropriate, international organisations. This included a commitment to undertake periodic assessments of fiscal transparency, as appropriate, using internationally adopted diagnostic frameworks, such as the IMF’s Fiscal Transparency Evaluation (FTE), the Public Expenditure and Financial Accountability (PEFA) framework, or OECD budget review. Accordingly the UK has committed to undertake an FTE. This is not yet underway but the Government is already working with the IMF to agree arrangements.