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EU Independent Fiscal Institutions Network
The EU Independent Fiscal Institutions Network (EU IFIs) is a voluntary and inclusive institution open to all independent fiscal oversight bodies operating in the EU. It provides a platform to exchange views, expertise and pool resources in areas of common concern. It was formally created in September 2015 following the meeting of EU fiscal oversight bodies. The Network supports the efforts to review and reinforce the EU fiscal framework, seeking to better exploit the synergies between rules and institutions, as well as between different levels of administration whilst respecting the principle of subsidiarity and enhancing local ownership and accountability. The network is currently headed by Sander van Veldhuizen, Chair of the CPB Netherlands Bureau for Economic Policy Analysis. The Secretariat is managed by the Centre for European Policy Studies (CEPS). Chairs * José Luis Escrivá (2015–2019) * Seamus Coffey (2019–2020) * Sander van Veldhuizen (2020–2021) * Richar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Budget Of The European Union
The Budget of the European Union (EU budget) is used to finance EU funding programmes (such as the European Regional Development Fund, the Cohesion Fund, Horizon Europe, or Erasmus+) and other expenditure at the European level. The EU budget is primarily an investment budget. Representing around 2% of all EU public spending, it aims to complement national budgets. Its purpose is to implement the priorities that all EU members have agreed upon. It provides European added-value by supporting actions which, in line with the principle of subsidiarity and proportionality, can be more effective than actions taken at national, regional or local level. The EU had a long-term budget of €1,082.5 billion for the period 2014–2020, representing 1.02% of the EU-28's GNI and of €1,074.3 billion for the 2021–2027 period. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Audit Of Belgium
The Court of Audit of Belgium (Dutch: , French: ''Cour des comptes'', German: ''Rechnungshof'') is a Belgian governmental institution established by article 180 of the Belgian Constitution. The Court of Audit is a collateral body of the Belgian Federal Parliament and exerts external control on the budgetary, accounting and financial operations of the Federal State, the Communities, the Regions, the public service institutions and the provinces. The task of the Court of Audit is defined in its organic law of 29 October 1846. This law gives the Court of Audit a large independence and a wide autonomy to perform its missions. The Court of Audit carries out its tasks at its own initiative. The principle of general independence is a guarantee of objectivity and impartiality. The legislative assemblies can charge to charge the Court of Audit with specific missions of management analysis. History The Court of Audit can trace its historical lineage to the Chamber of Accounts in the Count ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2015 In The European Union
Events in the year 2015 in the European Union. 2015 was designated as the: * European Year for Development Incumbents * President of the European Council – Donald Tusk * Commission President – Jean-Claude Juncker * Council Presidency – Latvia (Jan – Jun 2015), Luxembourg (July – Dec 2015) * Parliament President – Martin Schulz * High Representative – Federica Mogherini Events January * 1 January ** Lithuania officially adopts the euro as its currency, replacing the litas, and becomes the 19th Eurozone country. ** Latvia takes over the six-month rotating presidency of the council of the EU. ** The European Commission launches the ''European Year of Development'', focused on raising awareness of development across Europe. ** Mons, and Plzeň are the European Capitals of Culture 2015. * 7 January – A terrorist attack on the satirical magazine Charlie Hebdo in Paris leads to demonstrations, all over Europe in support of freedom of express ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Federalism
As a subfield of public economics, fiscal federalism is concerned with "understanding which functions and instruments are best centralized and which are best placed in the sphere of decentralized levels of government" (Oates, 1999). In other words, it is the study of how competencies (expenditure side) and fiscal instruments (revenue side) are allocated across different (vertical) layers of the administration. An important part of its subject matter is the system of transfer payments or grants by which a central government shares its revenues with lower levels of government. Federal governments use this power to enforce national rules and standards. There are two primary types of transfers, conditional and unconditional. A conditional transfer from a federal body to a province, or other territory, involves a certain set of conditions. If the lower level of government is to receive this type of transfer, it must agree to the spending instructions of the federal government. An example ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Policy And Political Reactions To The Eurozone Crisis
Policy is a deliberate system of guidelines to guide decisions and achieve rational outcomes. A policy is a statement of intent and is implemented as a procedure or protocol. Policies are generally adopted by a governance body within an organization. Policies can assist in both ''subjective'' and ''objective'' decision making. Policies used in subjective decision-making usually assist senior management with decisions that must be based on the relative merits of a number of factors, and as a result, are often hard to test objectively, e.g. work–life balance policy... Moreover, Governments and other institutions have policies in the form of laws, regulations, procedures, administrative actions, incentives and voluntary practices. Frequently, resource allocations mirror policy decisions. Policy is a blueprint of the organizational activities which are repetitive/routine in nature. In contrast, policies to assist in objective decision-making are usually operational in nature ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eurozone
The euro area, commonly called eurozone (EZ), is a currency union of 19 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies. The 19 eurozone members are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The eight non-eurozone members of the EU are Bulgaria, Czech Republic, Croatia, Denmark, Hungary, Poland, Romania, and Sweden. They continue to use their own national currencies, albeit all but Denmark are obliged to join once they meet the euro convergence criteria. Croatia will become the 20th member on 1 January 2023. Among non-EU member states, Andorra, Monaco, San Marino, and Vatican City have formal agreements with the EU to use the euro as their official currency and issue their own coins. In addition, Kosovo and Montenegro h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office For Budget Responsibility
The Office for Budget Responsibility (OBR) is a non-departmental public body funded by the UK Treasury, that the UK government established to provide independent economic forecasts and independent analysis of the public finances. It was formally created in May 2010 following the general election (although it had previously been constituted in shadow form by the Conservative party opposition in December 2009) and was placed on a statutory footing by the Budget Responsibility and National Audit Act 2011. It is one of a growing number of official independent fiscal watchdogs around the world. Richard Hughes, former Director of Fiscal Policy at HM Treasury, has been head since October 2020. Functions The UK government created the OBR in 2010 with the goal of offering independent and authoritative analysis of the UK's public finances. To that end it produces two 5-year-ahead forecasts for the economy and the public finances each year, alongside the Budget and Spring Statements. In it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Independent Authority For Fiscal Responsibility
The Independent Authority for Spanish Fiscal Responsibility (''Autoridad Independiente de Responsabilidad Fiscal española'', AIReF) is an independent agency for fiscal control in Spain. It was created in 2013 by the Spanish Government, on the initiative of the European Union and to implement a constitutional mandate. The purpose of the Authority for Fiscal Responsibility is to oversee the sustainability of public finances as a means for ensuring economic growth and the wellbeing of Spanish society in the medium and long-term. It has its own legal personality and full public and private capacity. It carries out its functions autonomously and independently from the General Government and acts objectively, transparently and impartially. AIReF was set up in in implementation of the constitutional mandate set out in Article 135. On November 14th of that yearOrganic Law 6/2013 on the establishment of the Spanish Independent Authority for Fiscal Responsibility, was approved. In June ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Congressional Budget Office
The Congressional Budget Office (CBO) is a federal agency within the legislative branch of the United States government that provides budget and economic information to Congress. Inspired by California's Legislative Analyst's Office that manages the state budget in a strictly nonpartisan fashion, the CBO was created as a nonpartisan agency by the Congressional Budget and Impoundment Control Act of 1974. Whereas politicians on both sides of the aisle have criticized the CBO when its estimates have been politically inconvenient, economists and other academics overwhelmingly reject that the CBO is partisan or that it fails to produce credible forecasts. There is a consensus among economists that "adjusting for legal restrictions on what the CBO can assume about future legislation and events, the CBO has historically issued credible forecasts of the effects of both Democratic and Republican legislative proposals." History The Congressional Budget Office was created by Title II of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Assembly Budget Office
The National Assembly Budget Office (NABO) supports the Korean National Assembly by analyzing and evaluating issues related to the national budget, fund and fiscal operations. History 2003. : Establishment of the National Assembly Budget Office 2007. : Initiation of government performance management evaluation program 2010. : Acquisition of access to national tax statistics 2012. : Publication of "Long-term Fiscal Projection 2012–2060" 2015. : Initiation of Special Taxation Evaluation Program : Initiation of the exclusive mandate to produce cost estimates of bills 2017. : Inauguration of the Seventh (current) Chief, Dr. Chunsoon Kim : Revision of Organization Rule (4 Department, 2 Deputy Directors General, 3 Directors, 17 Divisions and total of 138 staff) Mission The mission on the NABO is ''To support legislative activities through analysis and evaluation of national finances and policies''. Leadership The Speaker of the National Assembly appoints the Chief with the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliamentary Budget Officer
The Office of the Parliamentary Budget Officer (OPBO; ) is an office of the Parliament of Canada which provides independent, authoritative and non-partisan financial and economic analysis. The office is led by the Parliamentary Budget Officer (PBO; ), an independent officer who supports parliamentarians in carrying out their constitutional roles of scrutinizing the raising and spending of public monies and generally overseeing the government's activities. History Creation of PBO (2006) The Parliamentary Budget Officer was established in 2006 by the Conservative government of Prime Minister Stephen Harper, as one of the independent oversight offices established by the '' Federal Accountability Act''. The act was the Harper government's first piece of legislation. The powers of the PBO are enshrined in the ''Parliament of Canada Act'' (Sections 79.1-79.5). The PBO's mission is to "support Parliament in exercising its oversight role in the government’s stewardship of public ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliamentary Budget Office
The Parliamentary Budget Office (PBO) is an agency of the Australian Parliament whose purpose is to "inform the parliament by providing independent and non-partisan analysis of the budget cycle, fiscal policy and the financial implications of proposals". It was established by the Gillard Government following minority government formation negotiations. Following that commitment, a Joint Parliamentary Committee on the Parliamentary Budget Office was convened, chaired by John Faulkner. The PBO's independence is enshrined in legislation. In 2013, then-Treasurer Wayne Swan introduced legislation requiring the PBO to conduct a post-election audit to cost political parties' electoral commitments. In its first independent report, the PBO noted that the Australian federal budget had an underlying structural deficit, caused in part by Howard Government personal income tax cuts. See also * Parliament of Australia * Australian federal budget * Compare: **Parliamentary Budget Advisory ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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