The National Budget Flashcards
1
Q
Who writes up the national budget
A
Minister for finance
Micheal mcGrath
2
Q
What is a surplus budget?
A
Money leftover
3
Q
What is a deficit budget ?
A
Not enough money to cover all planned expenditure
4
Q
What happens if a surplus budget occurs (2)
A
Money can be saved and is available for public expenditure
Taxes dont have to be increased
5
Q
What happens if a deficit budget occurs ?
A
Public expenditure will be cut
Taxes will be increased
