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The New Fiscal Framework And The Comprehensive Spending Review
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Book Synopsis The Economic Constitution by : Tony Prosser
Download or read book The Economic Constitution written by Tony Prosser and published by . This book was released on 2014 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been little analysis of the constitutional framework for management of the UK economy, either in constitutional law or regulatory studies. This is in contrast to many other countries where the concept of an 'economic constitution' is well established, as it is in the law of the European Union. Given the extensive role of the state in attempting to resolve recent financial crises in the UK and elsewhere in Europe, it is particularly important to develop such an analysis. This book sets out different meanings of an economic constitution, and applies them to key areas of economic management, including taxation and public borrowing, the management of public spending, (including the Spending Review), monetary policy, financial services regulation, industrial policy (including state shareholdings) and government contracting. It analyses the key institutions involved such as the Treasury and the Bank of England, also including a number of less well-known bodies such as the Office for Budget Responsibility. There is also coverage of the international context in which these institutions operate especially the European Union and the World Trade Organisation. It thus provides an account of the public law applying to economic management in the UK. This book also adopts a critical approach, assessing the degree to which there is coherence in the arrangements for economic management, the degree to which economic policy-making is constrained by constitutional norms, and the degree to which economic management is subject to deliberation and accountability through Parliament, the courts and other institutions.
Book Synopsis Spending Review 2010 by : Great Britain. Treasury
Download or read book Spending Review 2010 written by Great Britain. Treasury and published by The Stationery Office. This book was released on 2010 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2009-10, public expenditure rose to 48 per cent of GDP whilst income fell to 37 per cent, resulting in the largest deficit in Britain's peacetime history. This Spending Review sets out how the Coalition Government will carry out its deficit reduction plan. Particular focus has been given to reducing welfare costs and wasteful spending. This has enabled the Coalition Government to prioritise the NHS, schools, early years' provision and the capital investments designed to support long term economic growth. Departmental budgets other than health and overseas aid will be cut by an average of 19 per cent over four years. Key areas of Annually Managed Expenditure (AME) in addition to Departmental Expenditure Limits (DELs) for each government department and for the devolved administrations are covered. The Review sets out departmental spending plans for the four years until 2014-15 and further savings and reforms to welfare, environmental levies and public service pensions. The Review protects high value transport maintenance and investment, maintains the science budget, invests in apprenticeships and the low carbon economy and allows universities to increase fees from the 2012-13 academic year. Fundamental reforms will simplify the welfare system and make net savings of �7 billion a year. Social housing will be reformed and social care will receive an additional �2 billion by 2014-15. Public service reform underpins the Review: decentralisation of power; cutting burdens and regulations on front-line staff; improving transparency, efficiency and accountability of local services. Local government will have greater freedom but must work within reduced allocations. Public sector pensions will be reformed in line with Lord Hutton's recommendations. Central government administration costs will be cut by 34 per cent by 2014-15. Government departments will produce business plans later in 2010 detailing reform plans and priorities.
Author :Great Britain: Parliament: House of Commons: Treasury Committee Publisher :The Stationery Office ISBN 13 :9780215037589 Total Pages :100 pages Book Rating :4.0/5 (375 download)
Book Synopsis The 2007 comprehensive spending review by : Great Britain: Parliament: House of Commons: Treasury Committee
Download or read book The 2007 comprehensive spending review written by Great Britain: Parliament: House of Commons: Treasury Committee and published by The Stationery Office. This book was released on 2007-12-03 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report is in five main sections: overall spending issues; efficiency and value for money; the new performance management framework; child poverty; and individual spending settlements. The planned rate of growth of public spending is set to be considerably slower than the rate of growth of recent years. This could lead to cost pressures on departmental spending as there will be a greater proportional growth in the Annual Managed Expenditure. There will also be cost pressures from public sector wage settlements, population growth and needs in particular sectors. The efficiency programmes are highly ambitious but the Committee recommends that savings should only be recorded if it could be shown that service standards have been maintained. There is a welcome for the decision not to impose explicit targets for reduction in Civil Service numbers. On child poverty the Committee note a possible tension between the target to halve child poverty by 2010-11 and that of eliminating child poverty by 2020. There is a concern that the Government has drawn back from a whole-hearted commitment to meet the 2010 target. They want the Government to either initiate a debate on the trade-off between the two targets or rededicate itself to the 2010-11 target, making it clear that the resources are available within the Comprehensive Spending Review.
Book Synopsis Guidelines for Public Expenditure Management by : Mr.Jack Diamond
Download or read book Guidelines for Public Expenditure Management written by Mr.Jack Diamond and published by International Monetary Fund. This book was released on 1999-07-01 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economics training in public finances has focused more on tax than public expenditure issues, and within expenditure, more on policy considerations than the more mundane matters of public expenditure management. For many years, the IMF's Public Expenditure Management Division has answered specific questions raised by fiscal economists on such missions. Based on this experience, these guidelines arose from the need to provide a general overview of the principles and practices observed in three key aspects of public expenditure management: budget preparation, budget execution, and cash planning. For each aspect of public expenditure management, the guidelines identify separately the differing practices in four groups of countries - the francophone systems, the Commonwealth systems, Latin America, and those in the transition economies. Edited by Barry H. Potter and Jack Diamond, this publication is intended for a general fiscal, or a general budget, advisor interested in the macroeconomic dimension of public expenditure management.
Book Synopsis The Green Book by : Great Britain. Treasury
Download or read book The Green Book written by Great Britain. Treasury and published by Stationery Office. This book was released on 2003 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new edition incorporates revised guidance from H.M Treasury which is designed to promote efficient policy development and resource allocation across government through the use of a thorough, long-term and analytically robust approach to the appraisal and evaluation of public service projects before significant funds are committed. It is the first edition to have been aided by a consultation process in order to ensure the guidance is clearer and more closely tailored to suit the needs of users.
Book Synopsis Fiscal Rules - Limits on Governmental Deficits and Debt by : Fred L. Morrison
Download or read book Fiscal Rules - Limits on Governmental Deficits and Debt written by Fred L. Morrison and published by Springer. This book was released on 2016-08-11 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines legal limitations on government deficit and debt and its impact on the ability of nations to provide services to their residents. It studies constitutional and statutory limitations, as well as those imposed by international treaties and other instruments, including those of both the European Union and the International Monetary Fund. The book contains a general report examining the fiscal rules that govern the budgets and expenditures of nation states. The general report is followed by a special report which covers the limits imposed by the European Union and by the smaller group of countries constituting the Eurozone. Ten national reports, describing the limits in their respective countries, form the basis of the general report. These countries include eight members of the European Union (five of which use the Euro and three of which do not), one other European state and one non-European state. The reports include two countries in which constitutional “debt brakes” limit national deficit and debt.
Author :Great Britain. Parliament. House of Commons. Treasury Committee Publisher : ISBN 13 :9780105547570 Total Pages :77 pages Book Rating :4.5/5 (475 download)
Book Synopsis New Fiscal Framework and the Comprehensive Spending Review by : Great Britain. Parliament. House of Commons. Treasury Committee
Download or read book New Fiscal Framework and the Comprehensive Spending Review written by Great Britain. Parliament. House of Commons. Treasury Committee and published by . This book was released on 1998 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: New Fiscal Framework and the Comprehensive Spending Review
Book Synopsis The Economics of Public Spending by : David Miles
Download or read book The Economics of Public Spending written by David Miles and published by OUP Oxford. This book was released on 2003-03-20 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Public Spending investigates the extent of government involvement in the economy, details its rational, and traces its historical record. The book unites articles previously published in Fiscal Studies, each one addressing a different area of expenditure and written by an economist specializing in that field. They describe both the data on public expenditure and the theory relevant to understanding the policy issues. A new introduction investigates the overall role of the public sector and discusses the general theory of public expenditure. In providing a detailed analysis of public expenditure, the book makes an important contribution to the economics literature. There are no other texts with this breadth of coverage or depth of analysis. Insights are provided into both the policy issues, cross-country comparisons of expenditure, and alternative approaches to economic analysis. The chapters apply the tools of orthodox public finance, public choice, modern public economics, and game theory to reach a range of policy proposals and conclusions. These demonstrate the range and potential of economic analysis when applied to these important issues.
Book Synopsis Economic and fiscal outlook by : Office for Budget Responsibility
Download or read book Economic and fiscal outlook written by Office for Budget Responsibility and published by The Stationery Office. This book was released on 2010-11-29 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Office for Budget Responsibility was established to provide independent and authoritative analysis of the UK's public finances. Part of this role includes producing the official economic and fiscal forecasts. This report sets out forecasts for the period to 2015-16. The report also assesses whether the Government is on course to meet the medium-term fiscal objectives and presents preliminary observations on the long-run sustainability of the public finances. Since the June forecast, the UK economy has recovered more strongly than initially expected. The GDP growth was greater than expected in both the 2nd and 3rd quarters, but that unemployment levels have risen to levels that the June forecast did not anticipate until the middle of 2012. In general the world economy has also grown more strongly. CPI inflation has remained slightly higher than expected in June, whilst public finances have performed as forecast. The interest rates on UK debt are lower than in June. The OBR forecasts that the economy will continue to recover from the recession, but at a slower pace than the recoveries of the 1970s, 1980s and 1990s. The publication is divided into 5 chapters with two annexes.
Book Synopsis Public Financial Management and Its Emerging Architecture by : Mr. M. Cangiano
Download or read book Public Financial Management and Its Emerging Architecture written by Mr. M. Cangiano and published by International Monetary Fund. This book was released on 2013-04-05 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms. Watch Video of Book Launch
Author :National Advisory Council on State and Local Budgeting (United States) Publisher : ISBN 13 :9780891252405 Total Pages :78 pages Book Rating :4.2/5 (524 download)
Book Synopsis Recommended Budget Practices by : National Advisory Council on State and Local Budgeting (United States)
Download or read book Recommended Budget Practices written by National Advisory Council on State and Local Budgeting (United States) and published by . This book was released on 1998-06-01 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Barbados: Fifth Review Under the Extended Arrangement, Request for Waiver of Nonobservance of Performance Criterion, and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Barbados by : International Monetary
Download or read book Barbados: Fifth Review Under the Extended Arrangement, Request for Waiver of Nonobservance of Performance Criterion, and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Barbados written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-18 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Barbados has made good progress in implementing its Economic Recovery and Transformation (BERT) plan to restore fiscal and debt sustainability, rebuild reserves, and increase growth. International reserves have increased to US$1.3 billion at end-March 2021, supported by IFI loans. This, and a successful 2018-19 public debt restructuring, have helped rebuild confidence in the country’s macroeconomic framework. However, a virtual standstill in the tourism sector during the pandemic took a significant toll in 2020, with the economy contracting by 18 percent. While Barbados was successful in containing the outbreak during 2020, a surge in COVID-19 cases in early 2021 resulted in the country’s second national lockdown in February. Economic growth is projected at 3 percent for 2021 premised on a modest recovery of tourism in the second half of the year, but the outlook remains highly uncertain, and risks are elevated, also in light of the possible impact of recent volcanic activity in neighboring Saint Vincent.
Book Synopsis The Demons of Liberal Democracy by : Adrian Pabst
Download or read book The Demons of Liberal Democracy written by Adrian Pabst and published by John Wiley & Sons. This book was released on 2019-07-12 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: Liberals blame the global retreat of liberal democracy on globalisation and authoritarian leaders. Only liberalism, so they assume, can defend democratic rule against multinationals or populists at home and abroad. In this provocative book, Adrian Pabst contends that liberal democracy is illiberal and undemocratic – intolerant about the values of ordinary people while concentrating power and wealth in the hands of unaccountable elites. Under the influence of contemporary liberalism, democracy is sliding into oligarchy, demagogy and anarchy. Liberals, far from defending open markets and free speech, promote monopolies such as the new tech giants that undermine competition and democratic debate. Liberal individualism has eroded the social bonds and civic duties on which democracy depends for trust and cooperation. To banish liberal democracy’s demons, Pabst proposes radical ideas for economic democracy, a politics of persuasion and a better balance of personal freedom with social solidarity. This book’s defence of democratic politics against both liberals and populists will speak to all readers trying to understand our age of upheaval.
Book Synopsis The Politics of Virtue by : John Milbank
Download or read book The Politics of Virtue written by John Milbank and published by Rowman & Littlefield. This book was released on 2016-08-22 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contemporary politics is dominated by a liberal creed that champions ‘negative liberty’ and individual happiness. This creed undergirds positions on both the right and the left – free-market capitalism, state bureaucracy and individualism in social life. The triumph of liberalism has had the effect of subordinating human association and the common good to narrow self-interest and short-term utility. By contrast, post-liberalism promotes individual fulfilment and mutual flourishing based on shared goals that have more substantive content than the formal abstractions of liberal law and contract, and yet are also adaptable to different cultural and local traditions. In this important book, John Milbank and Adrian Pabst apply this analysis to the economy, politics, culture, and international affairs. In each case, having diagnosed the crisis of liberalism, they propose post-liberal alternatives, notably new concepts and fresh policy ideas. They demonstrate that, amid the current crisis, post-liberalism is a programme that could define a new politics of virtue and the common good.
Book Synopsis PEFA, Public Financial Management, and Good Governance by : Jens Kromann Kristensen
Download or read book PEFA, Public Financial Management, and Good Governance written by Jens Kromann Kristensen and published by World Bank Publications. This book was released on 2019-11-24 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This project, based on the Public Expenditure and Financial Accountability (PEFA) data set, researched how PEFA can be used to shape policy development in public financial management (PFM) and other major relevant policy areas such as anticorruption, revenue mobilization, political economy analysis, and fragile states. The report explores what shapes the PFM system in low- and middle-income countries by examining the relationship between political institutions and the quality of the PFM system. Although the report finds some evidence that multiple political parties in control of the legislature is associated with better PFM performance, the report finds the need to further refine and test the theories on the relationship between political institutions and PFM. The report addresses the question of the outcomes of PFM systems, distinguishing between fragile and nonfragile states. It finds that better PFM performance is associated with more reliable budgets in terms of expenditure composition in fragile states, but not aggregate budget credibility. Moreover, in contrast to existing studies, it finds no evidence that PFM quality matters for deficit and debt ratios, irrespective of whether a country is fragile or not. The report also explores the relationship between perceptions of corruption and PFM performance. It finds strong evidence of a relationship between better PFM performance and improvements in perceptions of corruption. It also finds that PFM reforms associated with better controls have a stronger relationship with improvements in perceptions of corruption compared to PFM reforms associated with more transparency. The last chapter looks at the relationship between PEFA indicators for revenue administration and domestic resource mobilization. It focuses on the credible use of penalties for noncompliance as a proxy for the type of political commitment required to improve tax performance. The analysis shows that countries that credibly enforce penalties for noncompliance collect more taxes on average.
Book Synopsis The Municipal Financial Crisis by : Mark Moses
Download or read book The Municipal Financial Crisis written by Mark Moses and published by Springer Nature. This book was released on 2022-01-06 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: City governments are going bankrupt. Even the ones that aren’t are often stuck in financial chaos. It is easy to blame pensions, poor leadership, or a bad economy. But the problems go much deeper. With decades of experience in local government, author Mark Moses showcases the inside world of the city decision-making process that has spawned these crises. It becomes clear: City governments are maxing out their budgets because they are trying to maximize services. This book, likely the most ambitious attempt by someone who has worked in government to radically examine the delivery of municipal services since 'Reinventing Government' was published more than 25 years ago, explores why city governments pursue an open-ended mission and why bailouts and trendy budgeting processes will be, at best, only temporary solutions. Of interest to current and future city council members, regional and state government officials, those covering city government, financial analysts, city management, and individuals and organizations interested in influencing city policy, this book argues that cities won’t thrive until city hall is disrupted.
Book Synopsis Postliberal Politics by : Adrian Pabst
Download or read book Postliberal Politics written by Adrian Pabst and published by John Wiley & Sons. This book was released on 2021-06-16 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hyper-capitalism and extreme identity politics are driving us to distraction. Both destroy the basis of a common life shared across ages and classes. The COVID-19 crisis could accelerate these tendencies further, or it could herald something more hopeful: a post-liberal moment. Adrian Pabst argues that now is the time for an alternative – postliberalism – that is centred around trust, dignity, and human relationships. Instead of reverting to the destabilising inhumanity of 'just-in-time' free-market globalisation, we could build a politics upon the sense of localism and community spirit, the valuing of family, place and belonging, which was a real theme of lockdown. We are not obliged to put up with the restoration of a broken status quo that erodes trust, undermines institutions and trashes our precious natural environment. We could build a pluralist democracy, decentralise the state, and promote embedded, mutualist markets. This bold book shows that only a politics which fuses economic justice with social solidarity and ecological balance can overcome our deep divisions and save us from authoritarian backlash.
