Restoring Public Finances 2012 Update This report gives an update on fiscal consolidation strategies across OECD member countries since last year. Chapter 1 describes the scope and composition of country plans compares them with calculated fiscal need and provides information on the timing and details. Chapter 2 contains notes on each of the countries which present the current fiscal position and announced fiscal paths the consolidation plans and detailed expenditure and revenue measures. Chapter 3 discusses the financial situation and consolidation needs of sub national governments and the policies that are being carried out at both levels of government to reach the consolidation objectives.