fiscal policy

government expenditure

government spending

key words

budgetary process

book of estimates-planned expenditue for year&future

presented to dail

government department estimates year expenditure-discused&reveiwed at cabnet

voted on

goventment revenue

capital

current

non taxation revenue

taxation revenue

customs

vat

national lottery surplus

central bank surplus income

loans and grands from the EU

selling of state owned land

bond market

loans from county counsels and semi states

capital

current

voted and non voted

items used up day to day during the year

social welfare payments

nuses salaries

voted

non voted(ce ntral fund)

social welfare payments

civil servent salaries

national debt

judge salaries

eu budget contributions

not used up during the year but increase countrys productive capacity(self liquidation)

schools

roads

how does the government balance current and capital revenue

surplus/deficuit on current account

exchequer balance

current budget deficit

balanced current budget

current budget surplus

governments current budget

inflamitory budget

deflamitory budget

neutral budge

stimulationg the economy

inflation

revenue bouyency

fiscal drag

schools,univerictys&educational centres

roads,railways,airportsand ports

social welfare

ecorage and nurture entreprenurship

government measures to reduce budget deficuit

revenue

expenditure

increase direct taxes

increse indirect taxes

better funding of public services

rise in tax evasion

increaes inflation

fall in aggregate demand

rise in tax evasion

better funding public services

fall in aggregate demadn

industrial disputes-wage demands

fall in employment

stabalise or reduce public sector wages

scale back on state services

reduce numbers of employemnt in public sector

redundancy payment cost shock

fall in aggregate demand

long term unemployment

deteriation of public services

industrial desputes

job moves&emigration

fall in aggregate demand

fall in efficiency

fall in standerd of living

industrial disputes and public protests

costs increased in long run to reintroduce services

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government meausre to increase curreny budget surplus

expenditure

revenue

decrease direct taxes

decrease taxes

less tax evasion

reduced inflation

inresed spending in capital projects

aggregate demand

business oportaions in rural ireland

incresed construction employment

foreign direct investment

increase amount of public sector employees

increase current or new state services

decrease national debt

offers more services

better quality of life

more aggregate demand

lower servicing cost

bigger capacity to borrow in future to fund capital projects

lower cost of borrowing

cost decreased in long run as essential sevice

less protests/industial disputes

better quality of life

political difficultybin future if need to be revoked as economic turn

icreased public servise wage bill

long term employment

fiscal policy

purpose of fiscal policy

stabalise theeconomy-boom and bust

keppt in flation at or under targeted level

stimulate the economy-resession

types of fiscal policy

neutral

contractionary-boom

expansionary-resession

woren government budget deficuit

employment increased

increase consumer spending

helpt gov budget deficuit

reduce household discretionary income

limitations of fiscal policy in stabilising business cycles

higher borrwoing costs

eu monetary policy

time barriers

crowding out

appropreation act

financial act

principals of a fair tax system

taxes should be

economical

should not be perceived or be a disincentive

certain

assist the distribution of wealth

convinient

evasion shouldnt be possible

equitable

functions of taxation

to act as a automatic stabiliser

to acheive social objections

ro destribute national wealth

to promote enterprise

to finance government activities

types of tax

regressive

direct

progressive

indirect

usc

income tax

income tax

a flat euro amount levy

vat

subsets of tax

stealth tax

specific

car tax

largely unnoticed or unregognisable as a tax

how can tax help the government acheive economic and social aims

fines for anti social behavior

tax breaks to encourage activity

levy to discourage waste

financial aid to boost entreprise

increase taxes to decreasec consumption

smoking

plastic bags

littering

research and development tax credit

local entreprise office

what does the givernment do

ressesion

boom

uses state funds for capital projects

attractive taxation

lower tax rates

tax breaks and grants to encorage entrepreise

reduce or pay off national debt

stricter on banking sector

increase tax on consumtion

increase cash balance of natioanl tresauray managment agency