How can governments keep their finances sustainable in a world of high public debt, rising interest rates and persistent inflation? By shifting their focus from inputs (expenditure) to impacts (public value) — and by viewing themselves as drivers of growth and potential growth.

That’s the big message of this episode, in which Mark MacDonald, EY Global Public Finance Management Leader, and Gregory Daco, EY-Parthenon Chief Economist, Ernst & Young LLP, discuss all things public money with host Tim Smith. You’ll also learn the three supply-side factors governments should focus on, and when increasing spending could be more effective than making cuts.

Government Risk Radar is a mini-series that provides expert insights and practical strategies to help government and public sector leaders tackle an evolving risk landscape. It accompanies the EY report on the top 10 risks for the sector in 2025, which you can download as a PDF or listen to in audio format here. 17 mins