Post by novaanglicana on Apr 27, 2020 13:34:41 GMT
Fiscal Responsibility Act
Author: Rutger de Vries-Lau (UCP)
Sponsors: Susilo Sri (UCP), Joseph Yu (UCP), Floortje Cheung (UCP), Peng Rong (NBF), Jan van der Stel (NVP)
A bill to ensure the fiscal health of Banduria
BE IT THEREFORE ENACTED, as follows:
§1 - Definitions
§2 - Fiscal Deficits
- 1. The amount by which the expenditures of the Govt. of Banduria exceed the revenues of the Govt. of Banduria shall at no time exceed three (3) percent of gross domestic product in any fiscal year.
- 2. The above rule shall not apply if Banduria is experiencing a recession in that fiscal year or has experienced a recession in the last six months of the previous fiscal year.
- 3. If conditions listed in 2. do not apply, any expenditures which would violate the provisions of 1. shall be rendered void and shall not be spent by the Govt. of Banduria.
§3 - National Debt
§4 - Enforcement
