How strange - suddenly everyone wants to pay off their debts

Article Abstract:

Governments of all political views across Europe are seeking to reduce their debt. A similar development is being seen in the US, where both sides of Congress are now in favour of the principle of balanced budgets. The main driving forces behind this trend are developments in real interest rates and in the age structure of the population in the developed world. In the current economic climate, increased government borrowing tends to transfer resources from the poor to the rich. Furthermore, the ageing of the population now means that running a deficit imposes a heavy tax burden on children and the unborn.

Public finance

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Balance of power shifts in the wake of ship tax change

Article Abstract:

The UK government's plans to encourage ship-owners not to move offshore by giving them tax breaks can be seen as having a number of wider implications. It is clear that responsible companies are willing to accept that a reasonable level of taxation is necessary. Furthermore, it is likely to become increasingly common for countries to begin using taxation to attract extremely talented individuals. Indeed, tax competition for people will expand within the European Union. Tax competition will gradually cut personal tax rates, but this will be a lengthy process.

United Kingdom, Forecasts, trends, outlooks, Taxes, Deep Sea Foreign Transport, Deep Sea Freight Transportation, Corporate Taxes-Savings Incentives, Taxation, Shipping industry, Marine transportation, Tax incentives

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Trapped by debts of the past

Article Abstract:

The concept of governments running a surplus rather than a deficit is becoming increasingly widely accepted in the English-speaking world. In contrast, governments in continental Europe are finding it hard to restrict public debts to less than 3% of gross domestic product. Running a surplus falls far short of paying off the national debt, as there is strong pressure on politicians to spend the money instead. It seems rather unlikely that the idea of paying back the national debt will become politically fashionable.

Europe, Government domestic functions, Legislative Bodies, Budget, Management, Expenditures, Public, Public expenditures, Public debts

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