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• W182053356 abstract "This chapter describes the reappraisal and reform government expenditure. A high and growing level of public expenditure, more particularly the taxation required to release resources for public use, presents serious problems. Inflation is more difficult to hold in check, and effort, saving, and enterprise may be discouraged, and evasion, and avoidance are stimulated, and the costs of raising additional revenue may rise disproportionately. The increase in public spending in 1973–1975 led to a sharp fall in tax thresholds in relation to average earnings, to people being drawn into tax at income levels below the social security benefit levels, and to a heavy increase in the tax burden on low wage earners. The basic problem of allocating resources between the public and private sectors of the economy springs from the characteristic of publicly provided goods that, unlike private goods purchased in the market, there is no direct relationship between benefit and cost, and hence, there is no relatively clear-cut determination of how much should be allocated to each service, and hence, to the whole public sector." @default.
• W182053356 created "2016-06-24" @default.
• W182053356 creator A5062804385 @default.
• W182053356 date "1984-01-01" @default.
• W182053356 modified "2023-09-26" @default.
• W182053356 title "Reappraisal and Reform" @default.
• W182053356 doi "https://doi.org/10.1016/b978-0-08-028934-2.50020-6" @default.
• W182053356 hasPublicationYear "1984" @default.
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