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Gillespie: Foundations of Economics

Unit 26

Budget
The Budget is the major financial and economic statement made each year by the Chancellor of the Exchequer to Parliament and the Nation. Since 1998, the Chancellor has presented the Budget in the Spring. 
The role of the Budget is to provide an update on the state of the economy and the public finances and to present new forecasts for each, to set out the Government's economic and fiscal objectives, to report on the progress the Government has made toward achieving its objectives, and to set out the further steps the Government is taking to meet them. The Budget information is published in the Economic and Fiscal Strategy Report (EFSR) and the Financial Statement and Budget Report (FSBR). Information on recent budgets can be found at
www.hm-treasury.gov.uk/budget/bud_index.cfm
A guide to the Budget can be found at
www.hm-treasury.gov.uk/about/about_budguide.cfm

Chancellor of the Exchequer
To experience what it is like to be the Chancellor of the Exchequer why not visit the virtual economy and try your luck
www.bized.ac.uk/virtual/economy/

UK tax regime and the location of firms
Critics of the UK tax system claim that in recent years it has forced firms to locate elsewhere. For more on this topic read the article below.
 business.timesonline.co.uk/article/0,,13129-2532059,00.html

Government spending
"The Government's long-term goal is to establish world class public services through investment and reform to ensure that taxpayers receive real value for money.  Strong and dependable public services are vital to extend opportunity, tackle social exclusion and improve people's quality of life. They also lay the foundations for a stronger, more productive economy."
To find out more about Government spending plans visit
www.hm-treasury.gov.uk/documents/public_spending_and_services/pss_index.cfm