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Bill: Critical Industrial Investment Programme
Details
Submitted by[?]: Nacia Konservativa Partio
Status[?]: passed
Votes: This bill is a resolution. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: July 4210
Description[?]:
| Preamble:- Recognizing our oil-based economy is in danger of decrease due to the loom of falling oil prices in the northern hemisphere, it has come to our attention that a fail-safe be formed in order to stabilize our economy. Article 1: The Economic Stabilization Fund. There shall be an expenditure fund which will act as the balancer of the Federal Budget in the event that oil prices were to drop to detrimental levels, whose name shall be "The Economic Stabilization Fund" and its aim should be as follows (a) to insulate the domestic economy from large influxes of revenue, as from commodities such as oil. Article 2: The Economic Stabilization Fund and Accumulation Policy The Economic Stabilization Fund shall accumulate revenue from the following:- (a) Export Duty for Oil and Petrochemicals (which a Duty Fax of 25%) (b) Oil Mining Operations (As apart of the Trans-National Oil Mining Taxation Act) (c) 12% of the Government Surplus (Every Two Fiscal Terms) Article 3: The Economic Stabilization Fund and Investment Policy The Economic Stabilization Fund shall be governed by the Federal Monetary Oversight Agency and asset management being left to the Federal Debt Management Bureau whose obligations to the fund shall be:- (a) Make accessible the accounts of the National Depository with the Central Bank with return based on indices composed of eligible foreign debt securities. (b) Invest into Foreign Debt Security Advisories/Funds. Article 4: Accumulation Cap. There shall be an established Accumulation Cap of $35 Billion ZAR, which is defined as how much the fund is to accumulate at the end of each biannual fiscal term, which is as follows:- (a) From the Export Duty for Oil and Petrochemicals:- 25 ZAR (b) Oil Mining Operations:- 8 ZAR (c) Fiscal Budget:- 12% Article 5: Evaluation from the Ministry of Finance At the end of each fiscal term, the Ministry of Finance shall release a report documenting the accumulation of investment and revenue towards the fund, as well as the spending of the fund's capital. A special report is to be sent to the Sub-Committee on Banking, Monetary and Financial Affairs monthly in order to document accumulation, investment and spending on a much wider scale. Said report is to also be sent to the Federal Budget Auditing Agency for the same purposes. Article 6: The Economic Stabilization Fund Global The Economic Stabilization Fund shall have a global arm which should act as an international investor. The Fund shall invest into companies and industries across Terra using:- (a) The Surplus wealth of the Agricultural and Oil and Natural Gas Sector combined (around 8% of this surplus should be taken annually) (b) 13% of Government Net Investment annually. |
Proposals
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | |
| yes | Total Seats: 400 | |
| no | Total Seats: 0 | |
| abstain | Total Seats: 0 |
| Random fact: Submitting a bill without any proposals in it will not attract or detract voters. It will not raise your visibility or change your political position. |
| Random quote: "What difference does it make to the dead, the orphans, and the homeless, whether the mad destruction is wrought under the name of totalitarianism or the holy name of liberty and democracy?" - Mahatma Gandhi. |