![]() While uncertainty is a difficult concept to measure in economics, my own soon-to-be-released research suggests the Act has been successful in achieving this goal. By promoting transparency and policy predictability, the provisions of the Public Finance Act can be seen to be reducing uncertainty from fiscal policy. It’s harder for a party to claim it can no longer afford a policy if it was well informed. One of the required reporting documents is the Pre-election Economic and Fiscal Update ( PREFU) – Treasury’s economic forecast for the country and the government’s fiscal outlook.Īs well as giving a broad overview of the government’s finances, the PREFU helps prevent major policy reversals by an incoming government, by ensuring the economic and fiscal information available to them is as complete as possible. The reporting is intended to promote the full disclosure of all relevant fiscal information in a timely and systematic manner. The Public Finance Act requires regular fiscal reporting, including fiscal strategy reports, budget policy statements and economic and fiscal updates. Nicola Willis and Christopher Luxon speak to media after the election (Source: 1News)
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |