MTFS, the Budget and public services

Article Abstract:

'Miracle Target Fixity Syndrome' (MTFS) is commonly observed in any Chancellor of the Exchequer who has been in office for a relatively long period of time. The malady starts to set in the second or third year of the Chancellor's term when he becomes convinced that the policy stance that has served him well in dealing with the acute macroeconomic issues in the past is not only correct, but is actually the magic formula for permanent economic stability. A good example is the Labour Party's Denis Healy who, in the late 1970s, thought that pay restraint and trade union cooperation would work a third time to control inflation and public spending. This formula failed and Labour was defeated by the Tories in the next election. The present Chancelor, Kenneth Clarke, is pursuing a policy of fiscal restraint mixed with reasonable monetary ease. This stance appears sound, but Clarke's aversion to public spending is being tainted by his political aspirations.

Monetary policy, United Kingdom. Treasury, Clarke, Kenneth (American writer)

---

Getting to grips with reactionary forces

Article Abstract:

The Deregulation Task Force was set up to identify areas in the civil service bureaucracy which could be simplified or eliminated altogether in order to reduce the cost to business of needless regulation. Backed by UK Prime Minister John Major and composed of political insiders with backgrounds in the private sector, the task force champions the cause of deregulation in the UK and aims to push for radical reforms in the civil service to achieve its objective of removing burdensome regulations. A good example of an area where needless bureaucracy rules is the administration of PAYE and National Insurance by separate offices, when a single system would suffice. Another issue worth reviewing is the imposition of excessive financial reporting regulations on small companies. Although some observers believe that deregulation is a lost cause, the task force is out to prove otherwise. Fortunately, it has the political clout to push its reform agenda.

Economic aspects, Column, Bureaucracy, Deregulation

---

EIS: how it works and how it's changed

Article Abstract:

The Enterprise Investment Scheme (EIS) was included in the Nov. 1993 Budget as part of the UK government's efforts to stimulate investment in unquoted companies and consequently promote economic growth. Specifically, it is meant to encourage individual investors and business angels to provide funding to small and medium-sized business enterprises. A successor of the Business Expansion Scheme, EIS offers numerous tax reliefs and incentives such as reduction of the investor's income tax liability and exemption from capital gains tax. Investors can qualify for the scheme by meeting certain conditions, including investing in new ordinary shares in eligible companies and in shares issues specifically for commercial purposes to fund qualified business activity.

Public Finance Activities, Corporate Taxes-Savings Incentives, Tax incentives

Similar abstracts:

• Abstracts: Examining the effect of salesperson service behavior in a competitive context. Digitization of selling activity and sales force performance: An empirical investigation
• Abstracts: Feeling the heat. Believe it can happen
• Abstracts: Making a business out of pleasure. Web winners don't wait. Doing business with India
• Abstracts: Something to bury, not to praise. Lost chance. Succession? What succession?
• Abstracts: Theory and practice of revolution. Consumers cloud a cheerful mood. Deja vu in the land of manana

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.