The Golden Rule of Government Spending - Term Paper Example

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This paper under the title 'The Golden Rule of Government Spending' presents measures that must be taken to lessen the inflation rate. When the inflation rate increases, the employment rate decreases. One of the main objectives of the United Kingdom…
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The Golden Rule of Government Spending
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Download file to see previous pages One very good government strategy is the United Kingdom’s efforts to sell some of its idle assets which are recommended by the different departments. The different departments of the government are given a free hand to determine whether to maintain, reduce or increase the next accounting period’s budget.
The golden rule of government spending is for the United Kingdom government to limit the output or expenses to the inputs or resources. The government must also be complacent and continue its present sustainable fiscal policies.
One of the major government moves is to target the annual inflation rate. There are many factors that affect inflation. Ordinary lay people interpret inflation as the monthly or even weekly increase of daily needs of a man like food, clothing, and shelter.
The inflation rate can be triggered and increased by other factors like the unemployment rate, gross domestic product, and other factors. The government now has to print more paper money because now the ordinary lay people need more paper currency to pay for the once lower-priced basic goods like milk, fish, and others. The present rapidly expanding United Kingdom economy(Wormell, 2000) has contributed much to affect the inflation rate of the state. In an inflationary situation, the man on the street will have to spend more money to get the same quantity of basic needs they consume during the previous years. The United Kingdom must therefore constantly watch and take necessary steps to keep the prices of basic necessities or goods at the stable, if not permitted to be lowered, prices.
The present open policy of the United Kingdom government has helped much in alleviating the tight economic situation prevailing within its territories. The present increase in the unemployment situation has contributed to the inflation of goods. The daily moves of the Parliament and Chancellor Brown will also trigger the increase or decrease of the inflation rate. ...Download file to see next pagesRead More
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