Ma-tek
18-09-2005, 22:45
[OOC: All facts and figures are a hybridization of my RP'd economy (ie, self-simulated), and figures from ThirdGeek.]
IC:
Unified Commonality Government Announces Budget for D.E. 3
NENYA, SUNDAY - The Unified Commonality Government held a late session Saturday, playing 'catchup' in order to announce this year's budget - albeit somewhat late. Internal insurgency has prevented a full meeting of the UCG until now, and, in high spirits, the meeting progressed well despite the absence of the Empress. Six hours of debate later, the budget was finally passed with a super-majority of 84% for, 16% against or abstaining.
The new budget will bring much pleasure to the citizens of the Commonality - this year's tigerish economic growth due to the more pro-growth attitude to the economy shown by the Economic Court and the Imperial Trade Conglomerate over the last twelve months has enabled the Government to provide a four percent drop in tax, while still increasing the flow of capital into the national coffers.
But there will be almost no increase to the national surplus this year, representing the smallest economic profit margin for the State since the Dawn Year - a prospect which the Economic Court has already expressed concern over. The Economic Court is likely to enact measures in the coming months designed to improve governmental spending efficiency.
Essentially the new budget represents a massive increase in social spending to the US$28trillion region, with the military budget seeing a comparitively small increase by US$3trillion to US$9.5T - a relatively small cut of the pie. The total spending by the Government for the next year stands at US$48.709 T, or approximately 28% of the gross domestic product (US$171.003T, according to the Imperial Commission for Commonality Statistics).
Also seeing a large increase in funding is education - receiving US$8T of the total social spending budget. The Imperial Police Corps also receives a significant increase in spending, likely to help establish the IPC as a stellar player in anti-piracy actions and ease pressure on the Commonality Space Force.
Again Knootoss receives around three hundred billion US dollars in military funding, which has raised eyebrows once again; although the Unified Government observes that the Commonality has extensive economic links with Knootoss, thus justifying the "continued stability of relations between our two nations." A total of just US$800bn has been set aside for foreign aid, as compared to last year's (mostly unspent) total of US$2trillion.
The Imperial Trade Conglomerate receives a total of US$5T from Government coffers this year, but US$4trillion of that is designated for the ITC Small Business Startup Fund - and the newly spawned ITC Relief Package Grant System (formerly a division of the ITC-SBSF), the creation of which was announced by the ITC just hours before the Budget Debate D.E. 3 began...
~ Source: Various
IC:
Unified Commonality Government Announces Budget for D.E. 3
NENYA, SUNDAY - The Unified Commonality Government held a late session Saturday, playing 'catchup' in order to announce this year's budget - albeit somewhat late. Internal insurgency has prevented a full meeting of the UCG until now, and, in high spirits, the meeting progressed well despite the absence of the Empress. Six hours of debate later, the budget was finally passed with a super-majority of 84% for, 16% against or abstaining.
The new budget will bring much pleasure to the citizens of the Commonality - this year's tigerish economic growth due to the more pro-growth attitude to the economy shown by the Economic Court and the Imperial Trade Conglomerate over the last twelve months has enabled the Government to provide a four percent drop in tax, while still increasing the flow of capital into the national coffers.
But there will be almost no increase to the national surplus this year, representing the smallest economic profit margin for the State since the Dawn Year - a prospect which the Economic Court has already expressed concern over. The Economic Court is likely to enact measures in the coming months designed to improve governmental spending efficiency.
Essentially the new budget represents a massive increase in social spending to the US$28trillion region, with the military budget seeing a comparitively small increase by US$3trillion to US$9.5T - a relatively small cut of the pie. The total spending by the Government for the next year stands at US$48.709 T, or approximately 28% of the gross domestic product (US$171.003T, according to the Imperial Commission for Commonality Statistics).
Also seeing a large increase in funding is education - receiving US$8T of the total social spending budget. The Imperial Police Corps also receives a significant increase in spending, likely to help establish the IPC as a stellar player in anti-piracy actions and ease pressure on the Commonality Space Force.
Again Knootoss receives around three hundred billion US dollars in military funding, which has raised eyebrows once again; although the Unified Government observes that the Commonality has extensive economic links with Knootoss, thus justifying the "continued stability of relations between our two nations." A total of just US$800bn has been set aside for foreign aid, as compared to last year's (mostly unspent) total of US$2trillion.
The Imperial Trade Conglomerate receives a total of US$5T from Government coffers this year, but US$4trillion of that is designated for the ITC Small Business Startup Fund - and the newly spawned ITC Relief Package Grant System (formerly a division of the ITC-SBSF), the creation of which was announced by the ITC just hours before the Budget Debate D.E. 3 began...
~ Source: Various