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The Resource Deficit Reduction: Experiences of Other Nations

Deficit Reduction: Experiences of Other Nations

Contributor
Summary
This General Accounting Office report reviews the deficit reduction experiences of six nations - Australia, Canada, Germany, Japan, Mexico, and the United Kingdom. GAO identified the elements prompting these governments to engage in fiscal austerity policies, what budget actions they took, and how they achieved political agreement to take these actions. All six countries took actions to control spending, although few programs were eliminated. Revenue growth also contributed significantly, but was generally attributable to tax systems' response to economic growth and inflation. Through these measures, five of the six countries reached fiscal balance or surplus; Canada made progress to reduce its deficit without eliminating it. Despite such progress, all but Mexico reported deficits in 1993. These experiences show that significant structural improvement in fiscal policy is possible in modern democracies, although such progress is difficult to sustain. (KAR) p. 2
Language
eng
Work
Publication
Extent
217 pages
Note
Report to the U.S. Senate
Instance
Label
Deficit Reduction: Experiences of Other Nations
Title
Deficit Reduction: Experiences of Other Nations
Contributor
Subject
Language
eng
Summary
This General Accounting Office report reviews the deficit reduction experiences of six nations - Australia, Canada, Germany, Japan, Mexico, and the United Kingdom. GAO identified the elements prompting these governments to engage in fiscal austerity policies, what budget actions they took, and how they achieved political agreement to take these actions. All six countries took actions to control spending, although few programs were eliminated. Revenue growth also contributed significantly, but was generally attributable to tax systems' response to economic growth and inflation. Through these measures, five of the six countries reached fiscal balance or surplus; Canada made progress to reduce its deficit without eliminating it. Despite such progress, all but Mexico reported deficits in 1993. These experiences show that significant structural improvement in fiscal policy is possible in modern democracies, although such progress is difficult to sustain. (KAR) p. 2
Cataloging source
DTICE
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
GENERAL ACCOUNTING OFFICE WASHINGTON DC ACCOUNTING AND INFORMATION MANAGEMENT DIV
http://library.link/vocab/subjectName
  • Lessons learned
  • Financial management
  • Deficiencies
  • International
  • Budgets
  • Planning programming budgeting
  • Political science
  • Economics
  • Growth(general)
  • Canada
  • Japan
  • Reduction
  • Response
  • Germany
  • Agreements
  • Australia
  • Finance
  • Great britain
  • Taxes
  • Mexico
  • Revenue sharing
  • Economics and Cost Analysis
  • Government and Political Science
Label
Deficit Reduction: Experiences of Other Nations
Instantiates
Publication
Note
Report to the U.S. Senate
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
217 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227846989
  • (OCoLC)ocn227846989
Label
Deficit Reduction: Experiences of Other Nations
Publication
Note
Report to the U.S. Senate
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
217 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227846989
  • (OCoLC)ocn227846989

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