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THE UK FISCAL POLICY Alleyn and Viny (Wang xiao yang) (Liu xing) CN: GZ-02-029 GZ-02-0 Instructor David 2003 June 30th Table of contains 1 Abstract 1 Introduction 2 Result and analysis 2 Taxation 2 The direct tax 4 The indirect tax 4 Government spending 5 Recommendation and conclusion 6 References Abstract Fiscal policy was relatively popular during the 1940s and 1970s. Generally, it is the use of taxation and government spending to manage the economy. In the UK today, the rate of direct taxes have been brought down over the past two decades, though the field was paradoxically increased, and there is a shift of the balance of taxation from direct tax to indirect tax. Also, the government spending has been increasing, which is well illustrated by the increasing PSBR (public sector borrowing requirement). Generally, the main reason of these changes will be shown in the paper. Generally, government usually has conflicting objectives be using the fiscal policy. For example, keeping balance of payment equilibrium may...

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