June 2010 Budget
June 2010 Budget

Author: Great Britain. Parliament House of Commons. Treasury Committee

Publisher:

Published: 2010

Total Pages:

ISBN-13:

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In this report the Treasury Committee examine some of the risks and uncertainties in the approach taken by the Chancellor in the June 2010 Budget. The June Budget was more radical towards debt reduction than that taken by the previous government, but it also signalled a move to rebalance the economy away from the public and toward the private sector. The Committee expresses concern that there might be a slight increase in the chance of near-term negative growth, and that the Office for Budget Responsibility's independence has been called into question. It notes that net trade is not expected to contribute positively to GDP growth in 2010, and that the VAT increase will affect inflation. On welfare, the proposals to reduce housing benefit for Jobseeker's Allowance claimants after one year will affect some 300,000 people, and the Committee calls for fuller information about those affected, especially households with children. The aim to make the measures fair in absolute terms and as a proportion of income is supported, though the Committee is concerned that the poorest fare slightly less well than middle income groups. The inclusion of charts showing the distributional effects of the Budget is welcomed. The Committee also comments on the problems faced by small and medium sized enterprise in raising credit and on the bank levy. The Chancellor's statement that he has built an element of caution into the fiscal mandate is taken as a signal that he would introduce measures to stimulate the economy if economic conditions demanded.

June 2010 budget
June 2010 budget

Author: Great Britain: Parliament: House of Commons: Treasury Committee

Publisher: The Stationery Office

Published: 2010-07-23

Total Pages: 116

ISBN-13: 9780215554376

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In this report the Treasury Committee examine some of the risks and uncertainties in the approach taken by the Chancellor in the June 2010 Budget. The June Budget was more radical towards debt reduction than that taken by the previous government, but it also signalled a move to rebalance the economy away from the public and toward the private sector. The Committee expresses concern that there might be a slight increase in the chance of near-term negative growth, and that the Office for Budget Responsibility's independence has been called into question. It notes that net trade is not expected to contribute positively to GDP growth in 2010, and that the VAT increase will affect inflation. On welfare, the proposals to reduce housing benefit for Jobseeker's Allowance claimants after one year will affect some 300,000 people, and the Committee calls for fuller information about those affected, especially households with children. The aim to make the measures fair in absolute terms and as a proportion of income is supported, though the Committee is concerned that the poorest fare slightly less well than middle income groups. The inclusion of charts showing the distributional effects of the Budget is welcomed. The Committee also comments on the problems faced by small and medium sized enterprise in raising credit and on the bank levy. The Chancellor's statement that he has built an element of caution into the fiscal mandate is taken as a signal that he would introduce measures to stimulate the economy if economic conditions demanded.

June 2010 Budget
June 2010 Budget

Author: Great Britain. Parliament. House of Commons. Treasury Committee

Publisher:

Published: 2010-11-17

Total Pages: 9

ISBN-13: 9780215555328

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Government response to HC 350, session 2010-11 (ISBN 9780215554376). The June 2010 Budget published as HC 61, session 2010-11 (ISBN 9780102966305)

Changes to housing benefit announced in the June 2010 budget
Changes to housing benefit announced in the June 2010 budget

Author: Great Britain: Parliament: House of Commons: Work and Pensions Committee

Publisher: The Stationery Office

Published: 2010-12-22

Total Pages: 216

ISBN-13: 9780215555731

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The Work and Pensions Committee report that there is still a level of uncertainty around the impact of the proposed changes to Housing Benefit and their cumulative effect on households. The report examines the wide-ranging reforms to the Housing Benefit system proposed by the Government, and in particular for claimants in the private rented sector, in receipt of Local Housing Allowance. The Committee accepts the Government's desire to slow the sharp rise in Housing Benefit costs, particularly in the private rented sector, and thereby to influence the private rental market. However, it expresses some concerns about the availability of private rented accommodation in certain localities, which tenants are likely to be able to secure at the new Housing Benefit levels.

Spending Review 2010
Spending Review 2010

Author: Great Britain. Treasury

Publisher: The Stationery Office

Published: 2010

Total Pages: 116

ISBN-13: 9780101794220

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In 2009-10, public expenditure rose to 48 per cent of GDP whilst income fell to 37 per cent, resulting in the largest deficit in Britain's peacetime history. This Spending Review sets out how the Coalition Government will carry out its deficit reduction plan. Particular focus has been given to reducing welfare costs and wasteful spending. This has enabled the Coalition Government to prioritise the NHS, schools, early years' provision and the capital investments designed to support long term economic growth. Departmental budgets other than health and overseas aid will be cut by an average of 19 per cent over four years. Key areas of Annually Managed Expenditure (AME) in addition to Departmental Expenditure Limits (DELs) for each government department and for the devolved administrations are covered. The Review sets out departmental spending plans for the four years until 2014-15 and further savings and reforms to welfare, environmental levies and public service pensions. The Review protects high value transport maintenance and investment, maintains the science budget, invests in apprenticeships and the low carbon economy and allows universities to increase fees from the 2012-13 academic year. Fundamental reforms will simplify the welfare system and make net savings of �7 billion a year. Social housing will be reformed and social care will receive an additional �2 billion by 2014-15. Public service reform underpins the Review: decentralisation of power; cutting burdens and regulations on front-line staff; improving transparency, efficiency and accountability of local services. Local government will have greater freedom but must work within reduced allocations. Public sector pensions will be reformed in line with Lord Hutton's recommendations. Central government administration costs will be cut by 34 per cent by 2014-15. Government departments will produce business plans later in 2010 detailing reform plans and priorities.

Legislatures and the Budget Process
Legislatures and the Budget Process

Author: J. Wehner

Publisher: Springer

Published: 2010-06-23

Total Pages: 193

ISBN-13: 0230281575

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What is the role of legislatures in the budget process? Do powerful assemblies give rise to pro-spending bias? This survey of legislative budgeting tackles these questions using cross-national data and case studies. It highlights the tension between legislative authority and prudent fiscal policy, exploring strategies for reconciliation.