The Council is to review and assess the extent to which the fiscal and economic policy objectives proposed by the Government and decided by the Riksdag (the Swedish Parliament) are being achieved. These objectives include long-term sustainability of public finances, the surplus target, the expenditure ceiling and consistency of the fiscal policy stance with cyclical developments in the economy. The Council is also to assess whether fiscal policy is in line with long-term sustainable growth and long-term sustainable high employment. The Council's role furthermore includes examining the clarity of the Government's budget bills. It may also evaluate the quality of the economic forecasts and models on which the Government's assessments are based. Finally, the Council is also to work to stimulate more public debate on economic policy.
The Council fulfils its tasks primarily through the publication of the report Swedish Fiscal Policy, which is to be presented to the Government no later than the 15th of May each year. In the years when elections to the European Parliament are held, the report must be presented no later than the 10th of May. The report is used by the Riksdag as a basis for its evaluation of the Government's policy. As part of its remit, the Council also organises conferences and publishes in-depth studies of different aspects of fiscal policy.
Per Molander and Jörgen Holmquist:
Reforming Sweden's budgetary institutions - background, design and experiences
Sovereign wealth funds for macroeconomic purposes
Peter Birch Sørensen:
The Swedish housing market: trends and risks