When is a Policy Instrument not an Instrument? Fiscal Marksmanship in Britain, 1951–84

1985 ◽  
Vol 5 (1) ◽  
pp. 69-85 ◽  
Author(s):  
Paul Mosley
Keyword(s):  
General Pattern ◽  
Aggregate Demand ◽  
Policy Instrument ◽  
Alternative Methods ◽  
Fiscal Year ◽  
Tax Revenue ◽  
Fiscal Deficit ◽  
The Public ◽  
Data Estimation ◽  
Excise Duties

ABSTRACTThe paper considers the size and the implications of the errors made by the British Treasury in forecasting the budget over the period 1951–84. On average the Treasury underestimated the public sector fiscal deficit by 0.5 per cent of GDP; this is about half the average amount by which Chancellors attempted to change aggregate demand by means of their budgets. The general pattern was for tax revenue to be under-predicted, but for public expenditure to be under-predicted by even more. The government's fiscal deficit and thus the reflationary effect of government policy was therefore greater than the Treasury intended.A decomposition exercise carried out on the Treasury's own model for the fiscal year 1980/81 suggests that only about half of this error is due to errors in the specification of the model; the other half is due to errors in data estimation and in forecasting exogenous variables. Hence, the scope for improving forecasts by improvements to the model is limited. The paper considers three alternative methods by which forecasts could be improved: the application of realisation functions relating forecast to actual values; more frequent budgeting; and an attempt to derive more tax revenue from those categories (such as excise duties on alcohol, petrol and tobacco) whose yield is easiest to predict.

India will struggle to rein in fiscal deficit

2021 ◽  
Keyword(s):  
Public Health System ◽  
Well Being ◽  
Tax Revenue ◽  
Gdp Growth ◽  
Fiscal Deficit ◽  
Content Type ◽  
The Public ◽  
Glide Path ◽  
The Government ◽  
Health And Well Being

Significance The fiscal deficit is projected to be 9.5% of GDP in 2020/21 -- compared with a budgeted 3.5% -- narrowing to 6.8% in 2021/22 and 4.5% by 2025/26. The government is counting on increased tax revenue and receipts from divestment to help it stick to this fiscal ‘glide path’. Impacts Increased spending on health and well-being should at least create more jobs in the public health system. Delhi will count on a return to high levels of GDP growth to help reduce the government debt-to-GDP ratio. The government may find it difficult to realise its goal of pushing through privatisation of Air India within the first half of 2021/22.

Politics will bedevil Australia infrastructure outlays

2016 ◽  
Keyword(s):  
Renewable Energy ◽  
Credit Rating ◽  
Policy Innovation ◽  
Fiscal Year ◽  
Tax Revenue ◽  
Fiscal Deficit ◽  
Content Type ◽  
Near Term ◽  
Energy And Climate Policy ◽  
Personal Incomes

Significance Near-term growth in the economy is likely to fall short of the latest official forecasts of 2.5% in the July 2016-June 2017 fiscal year and 3.0% in 2017-18. Both the IMF and the OECD have recently recommended targeted infrastructure spending as part of an overall growth package. Impacts Any deterioration in the fiscal outlook will put Australia's current AAA credit rating at risk. Low growth in personal incomes and tax revenue will leave little scope to reduce the fiscal deficit. Sub-national jurisdictions may be able to pursue investments in renewable energy and climate policy innovation in Canberra's absence.

scholarly journals The Causality between Revenues and Expenditure of the Federal and Provincial Governments of Pakistan

2010 ◽  
Vol 49 (4II) ◽  
pp. 651-662 ◽  
Author(s):  
Tahir Sadiq
Keyword(s):  
Budget Deficit ◽  
Tax Revenue ◽  
Fiscal Deficit ◽  
Fiscal Deficits ◽  
Fiscal Effort ◽  
The Public ◽  
Debt Burden ◽  
Structural Problems ◽  
Strong Programme ◽  
The Impact

Large fiscal deficits and a growing debt burden have been a key element of the structural problems faced by the economy of Pakistan. During the last three years, for example, the budget deficit has averaged almost 6 percent of the GDP and the public debt has approached the level of 60 percent of the GDP. Targets agreed with IMF have been seriously violated and the SBA with the Fund has floundered because of the inability to control the fiscal deficit. There is a growing perception that one of the root causes of inflation is the large borrowing from the Central Bank to finance the deficit. This has resulted in a popular demand for cutting down of unproductive expenditure and observing austerity along with implementation of a strong programme of reforms to raise the low tax to GDP ratio of the country by broad-basing the tax system and eliminating exemptions. The fundamental question is whether measures at reducing the fiscal deficit will have a, more or less, permanent impact. If an increase in tax revenue is accompanied subsequently by a rise in expenditure then the impact on the deficit is likely to be temporary or limited in character. Alternatively, if a cut in expenditure leads to a slackening of the fiscal effort then the gains are also not lasting in nature.

Additional Evidence on Audit Report Lag

2001 ◽  
Vol 20 (1) ◽  
pp. 137-146 ◽  
Author(s):  
W. Robert Knechel ◽  
Jeff L. Payne
Keyword(s):  
Earnings Quality ◽  
Financial Statements ◽  
Financial Statement ◽  
Fiscal Year ◽  
Sources Of Information ◽  
Audit Report ◽  
The Public ◽  
Time Period ◽  
Audit Team ◽  
Available Information

The process for providing accounting information to the public has not changed much in the last century even though the extent of disclosure has increased signifi-cantly. Sundem et al. (1996) suggest that the primary benefit of audited financial statements may not be decision usefulness but the discipline imposed by timely confirmation of previously available information. In general, the value of information from the audited financial statement will decline as the audit report lag (the time period between a company's fiscal year end and the date of the audit report) increases since competitively oriented users may obtain substitute sources of information. Furthermore, the literature on earnings quality and earnings management suggests that unexpected reporting delays may be associated with lower quality information. The purpose of this paper is to extend our understanding about the determinants of audit report lag using a proprietary database containing 226 audit engagements from an international public accounting firm. We examine three previously uninvestigated audit firm factors that potentially influence audit report lag and are controllable by the auditor: (1) incremental audit effort (e.g., hours), (2) the resource allocation of audit team effort measured by rank (partner, manager, or staff), and (3) the provision of nonaudit services (MAS and tax). The results indicate that incremental audit effort, the presence of contentious tax issues, and the use of less experienced audit staff are positively correlated with audit report lag. Further, audit report lag is decreased by the potential synergistic relationship between MAS and audit services.

The Public Purchase of Grain on Independent Delos

1993 ◽  
Vol 12 (2) ◽  
pp. 300-334 ◽  
Author(s):  
Gary Reger
Keyword(s):  
Local Population ◽  
Aggregate Demand ◽  
Point Of View ◽  
Third Century ◽  
The Public ◽  
Price Structure ◽  
Grain Trade ◽  
Local Supply ◽  
The Impact ◽  
Grain Prices

Earlier work has tended to view Delos as an entrepôt for the larger Hellenistic grain trade, but during the years of independence (314-167 B.C.) the island relied on the import of grain to satisfy local demand, and this was certainly the more important aspect of the trade in grain, at least from the Delians' point of view. This study explores several issues connected with the local supply of grain. From prices for grain reported in inscriptions and estimates of the local population, the aggregate annual demand for grain is estimated, and the price structure of grain derived; the ratio of wheat and barley prices on Delos is found to differ considerably from that known from Athens and Roman Egypt. The shortage of 282 B.C., assumed by earlier scholars from prices recorded for that year, is shown instead to be a period of atypically low prices. The impact of the sailing season on shipments of grain is explored, and an annual rhythm in grain prices and availability linked to the closure of the sea and the agricultural year is revealed. The Delians tried to reduce the impact of these fluctuations by the public purchase of grain on an irregular basis in the late fourth and third century, as attested through public loans; by the last quarter of the third century they had established a regular sitōnia fund to buy grain for resale at reduced prices. Comparison of funds available, grain prices, and the estimated aggregate demand suggest that the Delian sitōnia was able to cover a significant fraction of local demand; this contrasts with evidence from other cities. Some of the implications of these results for our understanding of the Hellenistic economy are briefly explored.

scholarly journals Parents and Teachers’ Perceptions of the Tone and Emotional Impact of Education News Coverage

2021 ◽  
Vol 2 (2) ◽  
pp. 193-207
Author(s):  
Kathryn Shine ◽  
Shane L. Rogers
Keyword(s):  
Public Perception ◽  
General Pattern ◽  
News Coverage ◽  
Emotional Impact ◽  
Teachers Perceptions ◽  
The Public ◽  
The Media ◽  
Standardised Testing ◽  
Perceptions Of Education ◽  
Education News

This study examines Australian teachers (n = 268) and parents’ (n = 206) self-reported perceptions of education news coverage and how the coverage affects them. Overall, the participants reported a perception that news coverage of teachers, schools, the education system and standardised testing was generally negative in tone. Participants reported typically feeling demoralised by negative stories and inspired by positive stories. A high importance was placed upon the public perception of education by participants. However, trust in the media reporting of educational issues was low. An exception to this general pattern of findings was that participants did not place as much importance upon the public perception of standardised testing and reported being less affected by negative or positive stories on that topic compared to the other education aspects. This research is one of the few studies to investigate the potential emotional impact that news coverage of education can have on media consumers.

scholarly journals ANALISIS EFEKTIVITAS, KONTRIBUSI DAN POTENSI PAJAK KENDARAAN BERMOTOR SEBAGAI SUMBER PENDAPATAN ASLI DAERAH DI PROVINSI SULAWESI UTARA

2018 ◽  
Vol 14 (1) ◽  
Author(s):  
Tiara A. M. Kansil ◽  
Lintje Kalangi ◽  
Novi S. Budiarso
Keyword(s):  
Motor Vehicle ◽  
Provincial Government ◽  
Fiscal Year ◽  
Tax Revenue

Motor Vehicle Tax is a regional tax that been collected and managed by the provincial government which is expected to increase the revenue of Local Original Income. The purpose of this research is to find out the effectiveness of  Motor Vehicle Tax revenue is, also to find out contribution that Motor Vehicle Tax has given to Local Original Income, and to see the potential of Motor Vehicle Tax itself. The type of research used in this study is descriptive, where all the data obtained will be explained one by one and then will be analyzed, so that we can find out the conclusion that can answer the main purpose of this research. The results of this research indicate that revenues of Motor Vehicle Tax for the fiscal year 2014 to 2017 has been very effective. The contribution of Motor Vehicle Tax to Local Original Income from 2014 to 2017 ranged between 25%-30% which means that was a quarter of the local income. Motor Vehicle Tax has great potential, which is about 45,03% to be developed by the regional government.Keywords: Effectiveness, Contribution, Potency, Motor Vehicle Tax, Local Original Income

scholarly journals Implikasi Penerapan Undang-Undang Nomor 11 Tahun 2016 Tentang Pengampunan Pajak (Tax Amnesty) Dalam Meningkatkan Kepatuhan Wajib Pajak

2017 ◽  
Vol 7 (1) ◽  
pp. 1
Author(s):  
Agus Saiful Abib ◽  
Efi Yulistyowati ◽  
Amri Panahatan Sihotang
Keyword(s):  
Secondary Data ◽  
Fiscal Year ◽  
Tax Revenue ◽  
Short Term ◽  
Descriptive Research ◽  
Tax Amnesty ◽  
The Government ◽  
To Come ◽  
National Tax

<p>Tahun 2016, pemerintah mengeluarkan kembali kebijakan <em>Tax</em> <em>Amnesty </em>yang dituangkan dalam Undang-Undang Nomor 11 Tahun 2016 tentang Pengampunan Pajak. Pengampunan Pajak (<em>Tax</em> <em>Amnesty)</em> ini diharapkan dapat meningkatkan penerimaan pajak dalam jangka pendek melalui pembayaran uang tebusan, meningkatkan penerimaan pajak dalam jangka panjang melalui perluasan basis data pemajakan, meningkatkan kepatuhan Wajib Pajak, transisi ke sistem perpajakan baru yang lebih kuat dan adil, dan mendorong rekonsiliasi perpajakan nasional. Sehubungan dengan hal tersebut, untuk mengetahui apakah program <em>Tax</em> <em>Amnesty</em> Indonesia Tahun 2016 berhasil atau tidak, khususnya dalam meningkatkan kepatuhan wajib pajak, maka perlu dilakukan penelitian tentang : “Implikasi Penerapan Undang-Undang Nomor 11 Tahun 2016 tentang Pengampunan Pajak (<em>Tax</em> <em>Amnesty</em>) dalam Meningkatkan Kepatuhan Wajib Pajak”. Adapun permasalahan yang akan dibahas adalah bagaimana implikasi penerapan Undang-Undang Nomor 11 Tahun 2016 tentang Pengampunan Pajak<em> (Tax</em> <em>Amnesty)</em> dalam meningkatkan kepatuhan Wajib Pajak ? Berdasarkan implikasi tersebut, maka bagaimana sebaiknya pengaturan perpajakan yang akan datang ? Berdasarkan permasalahan tersebut jenis penelitian ini adalah yuridis normatif yang akan dikaji dengan pendekatan perundang-undangan, spesifikasi penelitiannya diskriptif analitis, data yang dipergunakan data sekunder, yang dianalisis secara kualitatif. Hasil penelitian menunjukkan bahwa implikasi penerapan Undang-Undang Nomor 11 Tahun 2016 tentang Pengampunan Pajak<em> (Tax</em> <em>Amnesty)</em> dapat meningkatkan kepatuhan Wajib Pajak, dan berdasarkan implikasi tersebut SE Dirjen Pajak No. SE - 06/PJ/2017 seharusnya tidak hanya untuk tahun pajak 2017 saja, tetapi juga untuk tahun-tahun yang akan datang. Di samping itu perlu ada peraturan yang mengatur tentang pengawasan terhadap pelaksanaan hak Wajib Pajak.</p><pre>In 2016, the government re-issue the Tax Amnesty policy as outlined in Law Number 11 Year 2016 on Tax Amnesty. The Tax Amnesty is expected to increase tax revenue in the short term through ransom payments, increase tax revenues over the long term through the expansion of taxation databases, increase taxpayer compliance, transition to a stronger and more just tax system, and encourage national tax reconciliation. In relation to this matter, to find out whether the program of Tax Amnesty Indonesia Year 2016 succeed or not, especially in increasing taxpayer compliance, it is necessary to do research on: "Implications Implementation of Law Number 11 Year 2016 on Tax Amnesty in Improving Taxpayer Compliance ". The problem to be discussed is how the implications of the implementation of Law Number 11 Year 2016 on Tax Amendment (Tax Amnesty) in improving taxpayer compliance? Based on these implications, then how should the taxation arrangements to come? Based on the problem, this type of research is normative juridical which will be studied with the approach of legislation, the analytical descriptive research specification, the data used secondary data, which analyzed qualitatively. The result of the research shows that the implication of the implementation of Law Number 11 Year 2016 on Tax Amnesty can improve Taxpayer compliance, and based on the implication of SE Dirjen Pajak No. SE - 06 / PJ / 2017 should not only be for the fiscal year 2017 alone, but also for the years to come. In addition, there should be a regulation that regulates the supervision of the implementation of taxpayers' rights.</pre>

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