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Bill: Fiscal Retrenchment (Amendment) Act

Details

Submitted by^[?]: Progress Party

Status^[?]: passed

Votes: This bill proposes to change the allocation of funds in the budget. It requires more than half of the legislature to vote yes. This bill will pass as soon as the required yes votes are in, or will be defeated if unsufficient votes are reached on the deadline.

Voting deadline: December 3482

Description^[?]:

Monsieur le président,

Our nation has a serious financial problem. Year on year, we are posting large budget deficits. Year on year, we are wasting public money - money earned by hard working tax payers and entrusted to us by them to manage properly on their behalf. Year on year, we are jeproadising the economic stabiltiy and the financial health of this country with our excessive, unsusitanable expending.

That is why the Progressive government is proposing a dramatic 8.1% reduction in public spending over the next year, in order to bring down our deficit and demonstrate to the international world that we are a nation which takes its financial health seriously. To achieve this goal, we propose:

*a 25% reduction in funds for the Prime Minister's office;
*a 12.5% cut to the foreign affairs budget;
*a 15.9% reduction in the interior budget;
*a 15.4% reduction in the Finance Ministry's working capital;
*a 10.0% cut to defence spending across all branches of the armed forces;
*a 9.1% cut in overall health expenditure;
*a 5.6% cut in finance for science and technology;
*a 12.5% reduction in spending on the environment and tourism;
*an 18.8% cut in the money we set aside for trade and industry, reflecting the privatisations of the last five years that have cut industrial costs.

Most of these savings will be used to help lower our deficit and start us on the track to repaying our national debt year on year. In other areas, we will use the savings this budget makes to:

*lower income tax for the poorest by increasing the tax-free threshold and lowering the middle band marginal rate;
*reduce tax on wealth creators by cutting the top rate of income tax to 30%;
*fund an astonishing 40.0% increase in the amount of money we spend each year on administering justice;
*give a 3.3% budget boost to the transport budget;
*and ring-fence spending on education and agriculture.

This is a progressive budget for a progressive nation. The national government cannot continue to be the provider of all things to all people: in our new liberalised economy, it is simply wasteful for the State to continue spending such vast sums of money.

I commend this budget to the Assembly.

Maryse Coulombe
Minister of Finance

ADDITIONAL

Monsieur le président,

In keeping with our agreement with the ANP, we have amended the budget to freeze military spending and cut an additional 10million dollars in industrial subsidies per annum.

Proposals

Article 1

Ministry	Current Budget	Old Budget	Propesed Budget
Head of Government	25,000,000 ALD	1,000,000 ALD	750,000 ALD
Foreign Affairs	500,000,000 ALD	800,000,000 ALD	700,000,000 ALD
Internal Affairs	450,000,000 ALD	22,000,000,000 ALD	18,500,000,000 ALD
Finance	400,000,000 ALD	6,500,000,000 ALD	5,500,000,000 ALD
Defence	300,000,000 ALD	100,000,000,000 ALD	100,000,000,000 ALD
Justice	500,000,000 ALD	10,000,000,000 ALD	14,000,000,000 ALD
Infrastructure and Transport	500,000,000 ALD	30,000,000,000 ALD	31,000,000,000 ALD
Health and Social Services	800,000,000 ALD	55,000,000,000 ALD	50,000,000,000 ALD
Education and Culture	1,000,000,000 ALD	50,000,000,000 ALD	50,000,000,000 ALD
Science and Technology	500,000,000 ALD	18,000,000,000 ALD	17,000,000,000 ALD
Food and Agriculture	800,000,000 ALD	10,000,000,000 ALD	10,000,000,000 ALD
Environment and Tourism	500,000,000 ALD	8,000,000,000 ALD	7,000,000,000 ALD
Trade and Industry	500,000,000 ALD	80,000,000,000 ALD	55,000,000,000 ALD
Total	6,775,000,000 ALD	390,301,000,000 ALD	358,700,750,000 ALD

Debate

These messages have been posted to debate on this bill:

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Voting

Vote

Seats

yes

Progress Party (490)
Impériale Avant-garde d'Alduria (125)

Total Seats: 615

Total Seats: 0

abstain

Dirk Diggler Party (0)

Total Seats: 0

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