Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation?:
OECD countries face daunting fiscal challenges following the substantial surge in debt-GDP ratios during the past four years, from already high levels in many cases. Fiscal consolidation is now the order of the day, and it takes on greater urgency against the backdrop of imminent budgetary pressures...
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2012
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | OECD countries face daunting fiscal challenges following the substantial surge in debt-GDP ratios during the past four years, from already high levels in many cases. Fiscal consolidation is now the order of the day, and it takes on greater urgency against the backdrop of imminent budgetary pressures from population ageing. While strong growth would help, the bulk of consolidation will require specific structural reforms to spending and revenue programmes to stabilise and then reduce debt-GDP ratios. On the spending side, many reform options offer budgetary savings through improved efficiency, without loss of desired outcomes or adverse equity impacts. Areas examined in this paper include health care, education, infrastructure, general public services, and transfer programmes. On the revenue side, countries' tax systems are perforated by tax expenditures that cause inefficiencies, reduce revenue, and undermine fairness. Reducing the scope and scale of tax expenditures remains one of the most promising means of boosting revenues while improving economic performance. Shifting taxation toward less inefficient tax bases also holds much promise, including raising the importance of both property taxation and environmental levies. Even without quantifying all possible measures, the cumulative cuts in spending and increases in taxation could yield 6% of GDP on average across countries in consolidation, with somewhat more on the spending side |
| Beschreibung: | 1 Online-Ressource (61 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5k9h28kd17xn-en |
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| spelling | Hagemann, Robert P... Verfasser aut Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation? Robert P. Hagemann = Consolidation budgétaire: Partie 6. Quels sont les meilleurs instruments de la consolidation budgétaire ? / Robert P. Hagemann Consolidation budgétaire: Partie 6. Quels sont les meilleurs instruments de la consolidation budgétaire ? Paris OECD Publishing 2012 1 Online-Ressource (61 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers OECD countries face daunting fiscal challenges following the substantial surge in debt-GDP ratios during the past four years, from already high levels in many cases. Fiscal consolidation is now the order of the day, and it takes on greater urgency against the backdrop of imminent budgetary pressures from population ageing. While strong growth would help, the bulk of consolidation will require specific structural reforms to spending and revenue programmes to stabilise and then reduce debt-GDP ratios. On the spending side, many reform options offer budgetary savings through improved efficiency, without loss of desired outcomes or adverse equity impacts. Areas examined in this paper include health care, education, infrastructure, general public services, and transfer programmes. On the revenue side, countries' tax systems are perforated by tax expenditures that cause inefficiencies, reduce revenue, and undermine fairness. Reducing the scope and scale of tax expenditures remains one of the most promising means of boosting revenues while improving economic performance. Shifting taxation toward less inefficient tax bases also holds much promise, including raising the importance of both property taxation and environmental levies. Even without quantifying all possible measures, the cumulative cuts in spending and increases in taxation could yield 6% of GDP on average across countries in consolidation, with somewhat more on the spending side Taxation Economics https://doi.org/10.1787/5k9h28kd17xn-en Verlag kostenfrei Volltext |
| spellingShingle | Hagemann, Robert P.. Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation? Taxation Economics |
| title | Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation? |
| title_alt | Consolidation budgétaire: Partie 6. Quels sont les meilleurs instruments de la consolidation budgétaire ? |
| title_auth | Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation? |
| title_exact_search | Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation? |
| title_exact_search_txtP | Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation? |
| title_full | Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation? Robert P. Hagemann = Consolidation budgétaire: Partie 6. Quels sont les meilleurs instruments de la consolidation budgétaire ? / Robert P. Hagemann |
| title_fullStr | Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation? Robert P. Hagemann = Consolidation budgétaire: Partie 6. Quels sont les meilleurs instruments de la consolidation budgétaire ? / Robert P. Hagemann |
| title_full_unstemmed | Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation? Robert P. Hagemann = Consolidation budgétaire: Partie 6. Quels sont les meilleurs instruments de la consolidation budgétaire ? / Robert P. Hagemann |
| title_short | Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation? |
| title_sort | fiscal consolidation part 6 what are the best policy instruments for fiscal consolidation |
| topic | Taxation Economics |
| topic_facet | Taxation Economics |
| url | https://doi.org/10.1787/5k9h28kd17xn-en |
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