Abstracts » Business

A Budget for growth and not stability

Article Abstract:

The United Kingdom Mar 1999 Budget is likely to boost economic growth at a time when the economy is likely to be recovering, in 2001-2002, rather than in 1999, when there is economic stagnation. The main aim of the Budget is to boost UK productivity and so increase the non-inflationary growth rate of the UK over the long term. Tax measures to attract more people into the labor market and hold down wages are geared to unskilled workers, of which there is no shortage. These tax incentives, and research and development tax credits may also have little impact. The Budget may be ineffective both for the short term and the long term.

Cover Story

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Beating the Budget blues

Article Abstract:

The UK Nov 1996 Budget deals with spending and revenue forecasts for the government in the context of its general economic forecasts. Income tax receives publicity, but other taxes are dealt with in the Budget. Sales tax changes tend to be implemented at midnight on the day they are announced while other measures are implemented in 1997 and later. The Budget becomes law when the Finance Bill has been approved. The ruling Conservative party may no longer be in power when some measures are implemented and the Labor party could be elected, replacing the Budget with its own measures.

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Behind the Budget apathy

Article Abstract:

The United Kingdom Mar 1999 Budget could boost equities by increasing productivity and the growth rate of the UK over the long term. The market has not been enthusiastic about the budget, which could be because the market tends to take a short-term view. The market may also not see the role of the Budget as affecting the economy over the long term. There is also the possibility that the government will not succeed, and there is a dispute as to whether governments can boost growth through intervention.

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