Public expenditure policy
Article Abstract:
Government spending increased as a proportion of total United Kingdom gross domestic product (GDP) from the 1900s to the 1970s. The Conservative government elected in 1979 decided to halt this trend, but was hampered by demographic factors such as numbers of retired people. Income tax and benefit payments were reduced in the 1980s. The Labor party was elected in 1997 and has decided against increasing income tax, and is also committed to staying within spending limits set by the previous government for a minimum two-year period.
Publication Name: British Economy Survey
Subject: Business, international
ISSN: 0263-3523
Year: 1998
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The outlook for the public finances
Article Abstract:
UK Chancellor Kenneth Clarke's Nov 1996 budget reflected his firm commitment to offering increased incentives to work through reductions in income tax and to keeping public spending under firm control. Public finances must clearly be kept under control, but the government is under very strong pressure to increase spending on education, health and related activities. It has done so, but this has meant that extensive cuts have had to be made elsewhere. It is likely that a new government will face very similar challenges.
Publication Name: British Economy Survey
Subject: Business, international
ISSN: 0263-3523
Year: 1997
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Public finance; the pre-election budget
Article Abstract:
The UK budget speech was made by Chancellor Norman Lamont in Mar 1992. It was against a background of recession, low output, high unemployment and public spending debt. The general election took place in Apr 1992. The two largest political parties took very different stances on personal taxation and public investment, particularly just before an election. Income tax was cut and duties on tobacco, petrol and alcohol were raised in the 1992 budget.
Publication Name: British Economy Survey
Subject: Business, international
ISSN: 0263-3523
Year: 1992
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