000			01429naa a2200169uu 4500
001			7030119374323
003			OSt
005			20190211162726.0
008			070301s2007 xx ||||gr |0|| 0 eng d
100	1		_aROBINSON, Marc _99056
245	1	0	_aThe case against balanced budgets
260			_aOxford : _bBlackwell Publishers Limited, _cMarch 1996
520	3		_aA proposal by the Fahey government in late 1994 to amend the NSW state Constitution so as to require ' balanced' budgets is one of a number of signs which suggest that the simple notion that total government expenditure should not exceed total tax revenue has gained real influence in Australia, particularly at the state level. This article explains why fiscal responsibility does not require overall budget balance. A balanced budget requirement of this type is not appropriate even if one were to make allowances for recession-induced ('cyclical') deficits. The reason for this is there are inherent irregularities in capital expenditure, and only through varying debt levels is it possible to reconcile reasonable stability of tax levels with stable levels of provision of public services (including services from public capital infrastructure)
773	0	8	_tAustralian Journal of Public Administration _g55, 1, p. 48-62 _dOxford : Blackwell Publishers Limited, March 1996 _xISSN 0313-6647 _w
942			_cS
998			_a20070301 _b1937^b _cCarolina
999			_aConvertido do Formato PHL _bPHL2MARC21 1.1 _c22914 _d22914
041			_aeng