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Goal of the Public Expenditure Cuts Has Not Been Achieved - Term Paper Example

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This work "Goal of the Public Expenditure Cuts Has Not Been Achieved" focuses on the consequences of the spending cuts in the public sector by highlighting some of the critical areas of public service. The author outlines the adverse impacts following the tightening of public sector budgets across the board. This work also investigates the effectiveness of spending cuts. …
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Goal of the Public Expenditure Cuts Has Not Been Achieved
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Download file to see previous pages In that light, the goals of these spending cuts were to help reduce signs and even eliminate government borrowing; this paper evaluates whether the spending cuts imposed by the UK government were successful in achieving the anticipated outcomes. Similarly, this paper will critically analyze the consequences of the spending cuts in the public sector by highlighting some of the critical areas of public service that have suffered adverse impacts following the tightening of public sector budgets across the board. this paper proposes that since the UK governments’ Annually-managed Expenditure (AME) has been on an upwards trend just like the Departmental Expenditure Limits (DEL), public spending remains as high as before the cuts were implemented, which implies that the spending cuts have not yet achieved their goals.
The UK government’s cuts in public spending in 2010 are undoubtedly the largest since World War II, following a gradual decline in the public finances and steady increase in the annual borrowing and the accumulation of public debt respectively (HM Review 2010, p.6). The deep spending cuts were aimed at reducing the borrowing to help stabilize the UK’s public finances; the government had projected that by the year 2014-2015, cuts to public spending would yield nearly 73% of UK’s fiscal stability while the remaining 27% would come from an increase in the discretionary net tax (Crawford, Emmerson, Phillips, & Tetlow 2011, p.130). The planned reduction in borrowing targeted to reduce public spending from a high of 47.4% of national income as in 2010 to an average of 39.3 in 2015; in the 2010 Spending Review, the UK government broadly outlined the areas that were to be affected by the cuts, including the department for housing, higher education, as well as the Department for Environment, Food, and Rural Affairs. Similarly, the local authority grants, as well as the Home Office and the Ministry of Justice, suffered major cuts in the spending review; contrariwise, the Department of International Development, as well as the Department of Energy and Climate Change, experienced large spending increases. ...Download file to see next pagesRead More
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