| 单词 | full employment budget |
| 释义 | full employment budget The government's budget as it would be if the rates and rules for taxes and expenditure stayed the same, while national income was at full employment level. If the actual level of national income is lower than this, tax receipts are lower and government spending on unemployment and other means-tested benefits are higher than with full employment. The full employment budget deficit would thus be smaller than the actual budget deficit. It should not be assumed that if the level of unemployment fell substantially the budget deficit would fall, or the budget surplus would rise, as much as this type of calculation suggests. A rise in real national income might well stimulate government spending through discretionary improvements in real services or more generous income maintenance payments, or discretionary tax cuts. |
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