Fiscal Imbalance in Australia

Fiscal Imbalance in Australia

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Description

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The term fiscal imbalance is used in Australia in relation to the flow of funds between its federal, state and territorial governments. Currently in Australia, the Commonwealth government raises greater tax revenue than the state and territory governments. This vertical fiscal imbalance is remedied by Commonwealth grants to states and territories of Australia. Australia also suffers from horizontal fiscal imbalance, which is remedied by a horizontal fiscal equalisation (HFE) policy overseen by the Commonwealth Grants Commission. When the Commonwealth transfers funds to states, it does not give each state a fixed amount or an amount proportional to the state's population relative to other states. Rather, it uses a formula to disburse funds according to which states need it most based on need and ability to raise own-revenue.show more

Product details

  • Paperback | 84 pages
  • 152 x 229 x 5mm | 136g
  • Acu Publishing
  • United States
  • English
  • 6135712861
  • 9786135712865