Abstract
Government expenditure depends upon policy—and that is decided by the electors. But we have moved away from the Gladstonian idea that we should raise just sufficient revenue to cover expenditure. The budget is now an instrument for controlling the level of activity, as was shown in Chapter 30.
This is a preview of subscription content, log in via an institution to check access.
Preview
Unable to display preview. Download preview PDF.
Copyright information
© 1994 J. Harvey and Janet Johnson
About this chapter
Cite this chapter
Harvey, J., Johnson, M.K. (1994). Public Finance. In: Modern Economics. Palgrave, London. https://doi.org/10.1007/978-1-349-23360-1_36
Download citation
DOI: https://doi.org/10.1007/978-1-349-23360-1_36
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-60835-7
Online ISBN: 978-1-349-23360-1
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)