Fiscal federalism refers to how money is managed and distributed between the central government and regional or local governments within a country. It involves the sharing of financial resources and responsibilities, with the central government usually collecting taxes and allocating funds to regional governments based on their needs and priorities. This system helps balance economic power and decision-making authority between the different levels of government.
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He posited that what the nation should do was to first attempt a more equitable level
of fiscal federalism before adopting drastic alternations that may likely plunge the country into uncertainty.
On its own part, UYLA, while thanking the Federal Government for initiating the visit, called for true
fiscal federalism as well as an increase in derivation benefit to the region from 13 to 50 per cent within every period of five years.
My recommendation for urgent restructuring, devolution of powers from the Centre to the federating units, enthronement of
true fiscal federalism, all of which the National Conference argued, fought for, disagreed, agreed on and finally consensualized upon, between its inauguration by former President Goodluck Ebele Jonathan, on March 17, 2014, to August 14, 2014, is to avoid a violent break - up of Nigeria.
Granted the angling
for fiscal federalism and resource control being canvassed all over the country scales through, what will Ekiti boast of?
But there is a fundamental flaw
in fiscal federalism theory as it applies to education: the ability of taxpaying parents of school - age children to vote with their feet (leave school districts with which they are dissatisfied) is severely constrained for the low - income populations that are most likely to find themselves served by low - performing schools.
Back in 1995 Finance Minister Paul Martin introduced a budget that
reshaped fiscal federalism and retrenched the scope of the welfare state in Canada.
I believe we need legal and constitutional reforms to
enthrone fiscal federalism, devolution of power to sub-national entities, increase revenue allocation to States and LGs, and create a truly federal or confederal, competitive and productive economy.
Our present democratic experience may still be far from the ideal but we must all make concerted efforts to
entrench fiscal federalism which is the only way to achieve true nationhood.»
«The full or partial repeal of SALT would upset the carefully
balanced fiscal federalism that has existed since the creation of the tax code, and it will result in unprecedented double taxation on taxpayers, forcing them to pay a federal tax on monies already paid in state and local taxes,» the letter states.
Fiscal federalism argues that government services are most efficiently delivered if provided closest to the taxpayers or consumers receiving them, and that competition among local governments for residents and taxpayers will improve those services.
The event featured a panel of experts, including Tamera Luzzatto, Pew's managing director of government relations; Anne Stauffer, the project director of Pew's
Fiscal Federalism Initiative; and Hannah Matthews, CLASP's director of child care and early education.
«The Bill is presently before the National Assembly, and it is a grave threat to the principles
of fiscal federalism.
He argued that to succeed, the country must abandon its «feeding bottle federalism «for
true fiscal federalism.
Furthermore, he reiterated the need
for fiscal federalism and unbundling of some items on the exclusive list, to enable states harness their mineral resources for its running.
We strongly believe
in fiscal federalism, we believe that each state should have control of its resources, we believe in state police, and basically all the issues we are here to discuss.»
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Lagos State Governor, Mr Akinwunmi Ambode on Friday called for the closure of the Federal Land Registry in Lagos, describing it as an aberration which the current ongoing Constitutional amendment process must address in line with the principle of
fiscal federalism.
agos State Governor, Mr Akinwunmi Ambode on Friday called for the closure of the Federal Land Registry in Lagos, describing it as an aberration which the current ongoing Constitutional amendment process must address in line with the principle of
fiscal federalism.