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Prepared by Keiko Honjo.
In addition, Budgets provide “Illustrative long-term fiscal projections” over the period of 30 years.
The Aging Group has not yet reached a consensus on how to incorporate such factors; however, it has identified that the health care projections are highly sensitive to the assumptions on unit costs.
Sustained Investment rule—the government’s fiscal rule aimed at assuring fiscal solvency—requires net public sector debt to be kept at a stable and prudent level, which the Treasury regards as below 40 percent of GDP.
The HCHS accounts for about 60 percent of total NHS expenditure. The pay cost index (PCI) is a weighted average of increases in unit staff costs for each of the staff groups within the HCHS. The Health service cost index (HSCI) is calculated to measure the price change for each of 40 sub-indices of goods and services purchased by the HCHS.