Local loot

Article Abstract:

Brazilian president, Fernando Henriques, aims to reform public finance, but there are problems in controlling local government finance due to the ability of towns to set up municipalities to claim government funds. This means that the cost of local administration increases, with less available for education and health services. There are also future costs to be born by the public sector pension system, already in deficit. A planned law on fiscal responsibility may help ease the problem, though there are doubts as to whether it will be enforced.

Tax Administration, Economic policy, Brazil, Fiscal policy, Local government

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Hey, big spender?

Article Abstract:

Steve Forbes claims that public spending in Texas has risen under George W. Bush as governor, and he portrays Bush as a liberal keen to keep taxes and spending high. Texas has seen a population increase under Bush's governorship, and this, with inflation, means that spending increases could be exaggerated. Bush attacked a previous governor in a similar way, using data that had not taken inflation into account. There are also limits to the amount fo control that a Texan governor can extercise over spending.

Public Finance-State & Local, Political activity, Political aspects, Public finance, Bush, George W., Texas

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Deeper in debt

Article Abstract:

The policy of Gordon Brown, British chancellor of the exchequer, will be put to the test when the proposed budget is released. The budget is aimed at reducing the borrowing requirement of the country and Labour has put the figures at a level higher than previously planned thus enabling the department to forego tax increases. The estimates of Labour however, will remain critical as it is closely related to the spending requirement and that any departure would mean an increase in tax rates.

Budget Process, United Kingdom, Planning, Budget, Budgeting, Budgets

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