Praise for the book:
Public Net Worth

“This book is a call for sensible change. It should be answered”

“Instead of trusting simple rules that embarrassed governments then change, we must confront reality. Governments do need to survive. But they must also do their job. Without using fuller accounts, they will fail”.


Martin Wolf, Chief Economic Commentator in the Financial Times

“Public Net Worth is a book with a mission: to get governments to overhaul their approach to public finance and accounting….focusing on net worth would at least force the government to ask the right questions about how best to improve the wealth of the nation – and not further immiserate the next generation”.

Simon Nixon, former Times Economic Commentator, on his new blog ‘The Wealth of Nations’

“Public Net Worth is long overdue. It offers a vision for more sustainable public finances, through the implementation of accrual accounting and a focus on public sector balance sheets. This book presents a roadmap to more resilient governments, armed with the finance and accounting information needed to deliver more efficient and effective public services. It is a must-read for any PFM professional”.

Alex Metcalf, Head of Public Sector at ACCA

“By using corporate accounting methods, the yardstick forces politicians to take a more holistic view of what they own and owe”

Francesco Guerrera, Reuters Breakingviews

“Never has the quest for restoring fiscal responsibility been more urgent in the wake of pandemic panic throwing fiscal caution to the winds. As the pioneer of New Zealand’s fiscal rules that have induced a culture of fiscal responsibility over the last 30 years, tribute needs to be paid to the real hero – accounting and budget reform with accrual rules at the heart and measures of net worth instituted and tracked. This book is a compelling practitioners guide for current and aspiring policymakers who take seriously their responsibilities to promote economic and social welfare, not just now but for future generations.”

Ruth Richardson, New Zealand Minister of Finance 1990-93 and responsible for the Fiscal Responsibility Act

“Public Net Worth – Accounting, Government and Democracy, suggests a holistic approach to PFM and explains how governments can improve their fiscal position from a declining net worth to a positive one that is able to withstand fiscal shocks and enhance the financial performance of the public sector.“

Arman Vatyan, Public Financial Management Leader at the World Bank

“Public Net Worth book comes at the right time to accelerate actions toward governments preparing more credible balance sheets.”

Srinivas Gurazada, Global Lead, Public Financial Management at the World Bank

“The Public Net Worth is an essential reading by all those who are concerned about the fairness of the government finance”.

W.A. Wijewardena, former Deputy Governor of the Central Bank of Sri Lanka

“The book makes a significant contribution by shining the spotlight on an important but often overlooked area of public finance: the government balance sheet.”

Terence Ho, associate professor in practice at the Lee Kuan Yew School of Public Policy, National University of Singapore