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Slide 2

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Fiscal Policy ­ What is it
The manipulation of public spending, taxation
and borrowing to achieve the government
macroeconomic objectives.
Fiscal Policy should be used to influence
supply-side macro-economic performance.…read more

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Taxation
Direct taxes: taxes levied directly on the
income of an individual or organisation.
Indirect taxes: taxes based on spending
For indirect taxation Against indirect taxation
Influencing spending patterns Distributional effects
Correcting externalities Inflationary effects
Incentive effects Crimes
Flexibility Announcement effect
Choice…read more

Slide 4

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The main objectives of the UK tax
system
Funding government spending: the government
must raise finance for their various expenditures.
Managing the economy as a whole: taxation can be
used to influence the UK's macroeconomic
performance, thus leading to supply-side
improvements.
Redistribution of income: the government can
levy taxes to reduce the income and wealth in
some societies and to boost the income and wealth
in other groups.
Correcting market failure: the UK government
ernment often uses taxes to improve the workings
of markets…read more

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The Principles of Taxation
The canons of taxation: the characteristics of a
`good tax' suggested by Adam Smith. (2 more
modern principles have been added- the
principles of taxation)
1. Economical
2. Equitable
3. Convenient
4. Certain
5. Efficient
6. Flexible…read more

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Hypothecation
When taxes are earned for a specific purpose
It gives some choice to consumers, and can
reveal how much people are prepared to pay
for some services.
The benefit principle is the argument that
taxes should be linked to the benefits received
by the tax payers.…read more

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Comments

davidsalter

20 slides covering fiscal policy in detail. It does not cover supply side despite the title. A good summary for student's who notes need improving.

izzy

AMAZING

Nimrahkhan

Good for As as well but needed in less detail ☺️

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