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Chp16

TheNationalBudget

TermDefinition
National Budget a document that gives a detailed breakdown of government income and expenditure for the next year.
Current Income and Expenditure day to day or regular income or expenditure.
Capital Income and Expenditure long-term or once-off income or expenditure.
Balanced budget where planned income is equal to planned expenditure.
Surplus budget where planned income is greater than planned expenditure.
Deficit budget where planned income is less than planned expenditure.
Debt servicing the amount of money allocated in the budget to paying off part of Ireland's national debt (interest and amount borrowed)
National Debt total amount of money borrowed by government.
Customs Duties a tax on goods coming into Ireland.
Excise Duties a tax on cigarettes, alcohol and petrol
Deposit Interest Retention Tax (DIRT) a tax on the interest earned by people on their savings
Created by: dkeenaghan
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