The words safer, stronger, and prosperous world are just about to be buzzwords for the next four years. They define how the Trump administration views the world. From my standpoint, a safer, accountable, and prosperous world is not an abstract idea; it is an achievable reality when governments and institutions prioritize transparency in revenue collection, budgeting, and expenditure. It’s a reality when citizens and businesses engage with their administrations. It is the reality that Public finances are the lifeblood of any country, influencing everything from infrastructure development to social welfare programs. However, when mismanaged, it has the potential to breed inequality, corruption, and inefficiency, eroding public trust and stalling national progress.

To make the world a better place, a safer place, and prosperous, citizens and businesses have the right to know how their taxes are collected, allocated, and spent. They have a right to know how taxation is determined. There is no doubt that open budget processes, timely reporting of expenditures, and independent audits ensure that resources are used effectively for the benefit of society. When governments make public budget data easily accessible and understandable, they empower citizens to engage in governance and hold institutions accountable.

At the Institute of Public Finance (IPF), we advocate for fiscal transparency and accountability as a non-negotiable pillar of economic governance. Through research, advocacy, and strategic engagement, we work to ensure that public resources are allocated and spent correctly, that elected leaders remain accountable, and that citizens and businesses engage in a meaningful public finance conversation.

To us at the Institute, fiscal justice is not only about fairness in taxation; it is also about how taxation and spending happen. It is about ensuring that tax policies do not disproportionately burden few people and the most vulnerable while facilitating the wealthy to evade taxation. Equally important is ensuring that public funds are channelled toward essential services such as healthcare, education, and infrastructure, reducing economic disparities and fostering shared prosperity.

It is important that we acknowledge at the onset that accountable public finance is more than an economic imperative toward a safer and prosperous world; it is a moral and social commitment to safeguarding national resources for present and future generations. Globally, by advocating for transparency and accountability, we move closer to a world where public finance drives sustainable growth and social equity. The road to a safe and prosperous future lies in a collective commitment to accountability, and governments, civil society, and the business community must work together to ensure that public finances are managed with integrity, efficiency, and inclusivity.

At IPF, we remain dedicated to this accountability mission, paving the way for a safer and more prosperous world. We believe that together, we can create a safer, more accountable, and prosperous world.

The writer is the CEO, Institute of Public Finance