An
austerity budget is a financial plan that focuses on reducing spending and increasing taxes in order to reduce a government's debt or deficit. It involves cutting back on governmental programs and services that may seem non-essential or reducing the funding allocated to them. The aim of an
austerity budget is to address economic challenges and promote financial stability for the government.
Full definition
The mayor's
austerity budget comes at a time when city tax revenue is coming in at a higher - than - expected pace.
We were one of the last academies to secure the funding before the introduction
of austerity budgets and we are tremendously grateful.
Countries experiencing the biggest reductions in expected growth include Brazil and India, whose economies have cooled this year; newly industrialized Asian economies, like Korea and Singapore, hit by a broader global slowdown; and Britain, struck
by austerity budgeting.
Alexis Tsipras, the leader of the leftist party Syriza, has been a critic of the current government's willingness to hew to
austerity budgets required by the bailout program.
George Osborne has paved the way for his bleakest
austerity Budget yet by warning there are more «tough choices» ahead.
«Four
consecutive austerity budgets featuring tax cuts for the rich and underfunding of schools and public services is nothing to boast about,» said Hawkins.
Some small European states such as Latvia, Estonia and Ireland did manage to re-start their economic growth while
imposing austerity budgets — but only by ratcheting down their wages and prices, via a big dose of unemployment, until their much - reduced costs sparked an export revival.
to Gov. Cuomo's plan to give billions of dollars in tax cut giveaways to banks and the wealthiest New Yorkers while schools and communities suffer
under austerity budgets and continuing layoffs.
A «democracy «where a Democrat for Governor promotes
austerity budgets while providing tax cuts to the rich, where the Republicans demand even more money for the rich and an end to the New Deal, and where the Supreme court repeatedly rule in favor of the 1 % to buy our political system under the guise of free speech.
While cheering Quebec's
recent austerity budget, Oliver fretted that Canada's economy could never reach its full potential while weighed down by Ontario and its multi-billion-dollar deficits.
In a mind - numbing thought, it appears that the implementation of
austerity budgets actually had the effect of increasing deficits as economies slowed as austerity began to bite.
«If you do things that dampen economic growth, and the UK is finding this out now, they adopted this
big austerity budget, there's a good chance that economic activity will go down so much that tax revenues will be reduced even more than spending is cut, and their deficit will increase,» he said.
The downside is that she lost a close special election to Democratic Rep. Kathy Hochul and never really found her footing in a race that hinged on Paul Ryan's
austerity budget plan.
And pro-Leave Labour MP John Mann said: «Alistair Darling is backing George Osborne's
new austerity budget.»
On the heels of six years of
austerity budgets dating to 2008, the Executive Budget proposes another year of spending cuts in a host of areas, and lays out a multi-year plan of steep spending cuts that will extend the austerity measures for three more years, thus completing an «austerity decade» for New York.
As we are all aware, educational establishments at primary and secondary school level rely on funding from the local education authority and in times
where austerity budgets are tight, as should be expected with what little additional funds there are, funding is better put to use providing teaching aids to enhance the students learning rather than providing for their security.
Like so many urban Catholic schools subsisting on tuition payments or private philanthropy, our teachers and leaders have been forced to operate
on austerity budgets.
«In Cuomo's fifth
straight austerity budget, hedge funds and yacht owners win and public education, ethics, and urgent social and environmental needs lose.»
Cameron and Clegg appeared nervous of being portrayed as advocates
of austerity budgets of the kind that have been rejected by many voters on mainland Europe.
And, from new subways to
an austerity budget, it's hard to recall a politician so unable to sell the very agenda that got him the job.
And as tough as it is to put
an austerity budget in place, it's even tougher to stick with it in the long term.
In this regard, the pivot to
austerity budgets by both us (starting in around 2010) and European economies was a lasting economic mistake.
Given also the need for
an austerity budget to comply with European rules, growth is likely to weaken, meaning the protest parties will continue to strengthen and may well be strong enough to take over in a couple of years.
I am certain that other Parliamentary Governments will fall as
the austerity budgets begin to take a toll on voters of many Western nations.
 Back to 1995 for
an austerity budget?
Of further puzzlement is the apparent endorsement of immediate government borrowing to finance infrastructure investment by both David Dodge (who as Finance Deputy Minister, helped orchestrate Paul Martin's «Hell or High Water»
austerity budgets of the mid-90s) and Kevin Lynch (who as Clerk of the Privy Council, was an architect of Stephen Harper's Advantage Canada and Economic Action Plans).
When Governor Cuomo faced a $ 10 billion budget deficit upon taking office in 2011, he pushed
an austerity budget of cuts and caps to spending, taxes, and state workers, claiming, «I am a progressive who's broke.»
I would suggest that a better approach than
austerity budgets is to improve the business climate and reduce government deficits by enacting the New York Health Act in order to lower health care costs to business and government.
Since taking office, Cuomo has allied with the biggest corporate interests in Albany to push through
an austerity budget that protects Wall Street and the richest state residents while balancing the budget on the backs of poor and middle class New Yorkers.
«Cuomo's fifth
austerity budget will make poverty worse.
Prior to the legislature's proposal for increased taxes, Vanderhoef had presented
an austerity budget that called for the immediate sale of Summit Park as well as massive cuts in many other programs.
Coalition spending cuts Smith has been highly critical of George Osbourne's
austerity budget and came under fire for comparing it to «domestic violence».
The other district again sought to bust its limit — a move voters rejected, meaning the district had to freeze its tax increase and operate under
an austerity budget.
Andrew Cuomo has put us on
this austerity budget, but these are relatively prosperous times in New York.
Money will be redistributed downwards, where it's needed, rather than upwards as it consistently has been in
the austerity budgets of George Osborne.
The NYT asks: «Why impose
an austerity budget that punishes (NYC) when the state has ample budget surpluses?»
PLATTSBURGH — Following the elimination of four city departments, Plattsburgh Mayor Colin Read has proposed
an austerity budget he says is «responsible and visionary.»
The Democratic governor has gotten warm receptions before business groups as well as audiences upstate and on Long Island as he pushes
an austerity budget that cuts $ 1.5 billion from education, $ 2.85 billion from health care, freezes a planned increase in the basic welfare grant and, overall, cuts $ 434 million from social service programs.