# The Fiscal Responsibility Order 2010, Note: Explanatory note


(This note is not part of the Order)
This Order imposes a duty on the Treasury to ensure that public sector net borrowing expressed as a percentage of gross domestic product for the financial year ending in 2014 is 5.5% or less. The duty only applies if half of public sector net borrowing expressed as a percentage of gross domestic product for the financial year ending 2010 as set out in the Treasury’s first report made to Parliament under section 3(3) of the Act is more than 5.5%.
The Order also makes provision for reporting on progress towards complying with the duty and for reporting on compliance with the duty.

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Source: https://www.legislation.gov.uk/ukdsi/2010/9780111497418/note (the official version)
Page: https://openlegislation.uk/draft-fiscal-responsibility-order-2010/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.