Highlights

Understanding a budget – Populism – Prosperity – Swadeshi – Protectionism- Inflation – Currency Valuation and Taxation.

Quotations for Consideration

“Government is the great fiction through which everybody endeavours to live at the expense of everybody else.” – Frederic Bastiat

“Economics is not a science and shouldn’t be there to advise policy.” – Ariel Rubenstein

“If economists knew what they were doing, they would have all been billionaires.“ – Anon

“An economist is an expert who will know tomorrow why the things he predicted yesterday did not happen today.” – Laurence J. Peter

“The Budget should be balanced, the treasury should be re-filled, the public debt should be reduced and the arrogance of the public officials should be controlled.” – Ross Perot

Key Concepts

The Budget should:

• Clearly specify the directive principles guiding Fiscal Policy.
• Layout the plan for its implementation in a stable and consistent manner over years.
• Encourage innovation, entrepreneurship and trade.
• Generate employment and financial growth while keeping the value of the currency as stable as practical.

The economic policies of a Good Government should be geared and designed to enable everyone to get a “good job”. Meaning such a job as should pay a decent wage to at least enable food and shelter for the family (Husband, wife and 2 to 3 children) at a minimally acceptable level that will keep rising as growth occurs. Such a level will vary from rural to small town to city and from location to location, hence, it is best aimed at fixing the minimum wage for an agricultural / unskilled labourer, in the rural area of the State and allowing the employee who is more skilled or qualified to negotiate his/her own wage in the market from that base. To ensure this is practically possible it is the Government’s responsibility to regulate the economy as to have an ever-increasing job market.

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