Management of the Budget

The government manages its finances against the background of a rolling
five-year, medium-range forecast of expenditure and revenue. This
provides a model for the government's overall consolidated financial
position.

The most important principle underlying the government's management
of the public finance is that government expenditure, over time, should
not grow faster than the economy as a whole. The Budget presented by
the Financial Secretary to the legislature each year is developed against
the background of the medium-range forecast to ensure that full regard
is given to this principle and to longer-term trends in the economy. 

 

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