tag:blogger.com,1999:blog-2826531655042170344.post1907109699113027948..comments2024-03-26T11:29:52.986+00:00Comments on Economic Incentives: Understanding the Public Finances is hardSeamushttp://www.blogger.com/profile/15679299530222667673noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2826531655042170344.post-35073690049640140122011-01-11T17:17:45.354+00:002011-01-11T17:17:45.354+00:00Hi Tumbrel,
I agree completely. All revenue shou...Hi Tumbrel,<br /><br />I agree completely. All revenue should be counted as revenue and all expenditure should be counted as expenditure. This concept of 'Net Expenditure' just muddies the waters.<br /><br />I had a run through these Appropriations in Aid in this post: <br /><br /><a href="http://economic-incentives.blogspot.com/2010/12/exchequer-account-in-not-public.html" rel="nofollow">Exchequer Account is not The Public Finances</a><br /><br />The now departed Income Levy formed part of Income Tax so was at least partly visible, though we are not provided with a breakdown of Income Tax receipts by category. The Health Levy was a receipt for the Department of Health so that will be no more.<br /><br />The new Universal Social Charge will form part of Income Tax. Expect to see Income Tax receipts up substantially next year as they will be boosted by the combined revenues of both levies in the new USC.Seamushttps://www.blogger.com/profile/15679299530222667673noreply@blogger.comtag:blogger.com,1999:blog-2826531655042170344.post-29111786935127830192011-01-10T13:42:10.879+00:002011-01-10T13:42:10.879+00:00The system of allowing department to hold onto rec...The system of allowing department to hold onto receipts as "appropriations in aid" is just another quaint Irish way of hiding whatever it is you don't think people are adult enough to see.<br />It is a bad joke.<br />The biggest bag of tricks by far is the "Social Fund".<br />Here taxeas are paid into the fund in the format of PRSI or levies. Then by some Tommy Cooper like magic, some people are alloed to dip into the lucky bag while others are not.<br />All nicely hidden.<br /><br />Can I ask, how is the Income levy treated and how ill the USC be treated in the govt account. Will the USC go into the Social Fund or will it be counted as Tax receipts?Joseph Ryanhttps://www.blogger.com/profile/07581632829548894401noreply@blogger.com