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ⓘ Encyclopedia | Government finances - Wiki ..


Aviation taxation and subsidies

Some governments subsidize airports and passenger customs costs within airports. The EU Commission in 2014 ruled that subsidies Ryanair received from a regional authority a decade ago had to be repaid €525.000.


Benefitive treasury measure

In economics, the benefitive treasury measure is an economic indicator that attempts to correlate a relationship between immigration and government tax receipts/government spending; put more simply, it is cost-benefit analysis of immigration on a macroeconomic scale. Originally coined in a policy report by G. Ing and R. McGowan of the Liberal Democrat Policy Research Unit, it was later popularised by the BBCs Business Editor, Robert Peston, during the late-2000s recession, in reference to the British Conservative Partys proposal for a cap on inwards migration, referred to as the "immigrant cap". BTM analysis typically takes one of two forms. The first, growth analysis or absolute BTM, charts the net benefits and net costs of total inward migration occurring within the last 12 months. The second form of BTM analysis, Schengen BTM, has its parametres limited to immigration originating from European Union member states. Schengen BTM is unique in that it as much a political tool as an economic one, having originated from the research unit of a British political party. The result of BTM analysis is displayed as BTM points, with each point corresponding to 0.01% of economic growth, relative to real GDP; for example, 4 on the BTM scale would suggest annual economic growth of 0.04% real terms within an economy, directly resultant of the previous years net immigration. -4, in contrast, would indicate a contraction of −0.04%, perhaps as a result of social disorder, falling productivity or some other cause. These factors may be described as benefitive treasury indicators, the socio-economic factors used to predict and calculate the annual BTM. BTI ranges from additional key worker housing construction costs, increases in law and order expenditure as a result of additional need for social cohesion initiatives in deprived areas, to rises in the level of social security outpayments.


Civil list

A civil list is a list of individuals to whom money is paid by the government, typically for service to the state or as honorary pensions. It is a term especially associated with the United Kingdom and its former colonies of Canada, India, New Zealand, Singapore and many more. It was originally defined as expenses supporting the monarch.


Confidence and supply

In a parliamentary democracy based on the Westminster system, confidence and supply are required for a minority government to retain power in the lower house. A confidence-and-supply agreement is one whereby a party or independent members of parliament will support the government in motions of confidence and appropriation or budget supply votes, by either voting in favour or abstaining. However, parties and independent members normally retain the right to otherwise vote in favour of their own policies or on conscience on legislative bills. A coalition government is a more formal arrangement than a confidence-and-supply agreement, in that members from junior parties i.e. parties other than the largest gain positions in the cabinet, ministerial roles and may be expected to hold the government whip on passing legislation.


Government financial statements

Government financial statements are annual financial statements or reports for the year. The financial statements, in contrast to budget, present the revenue collected and amounts spent. The government financial statements usually include a statement of activities, a balance sheet and often some type of reconciliation. Cash flow statements are often included to show the sources of the revenue and the destination of the expenses.


Government spending

Government spending or expenditure includes all government consumption, investment, and transfer payments. In national income accounting the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure. Government acquisition of goods and services intended to create future benefits, such as infrastructure investment or research spending, is classed as government investment. These two types of government spending, on final consumption and on gross capital formation, together constitute one of the major components of gross domestic product. Government spending can be financed by government borrowing, or taxes. Changes in government spending is a major component of fiscal policy used to stabilize the macroeconomic business cycle.