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Is this a future model for the Irish border? A budget influences society in three steps. For more data on Business Studies Class 12 Syllabus, Commerce notifications and sample papers for Class 12 Commerce, stay tuned to BYJU’S. Advantages of a budget surplus A surplus allows a government to repay some of their existing national debt This might lead to a fall in bond yields which makes future government borrowing less expensive A budget surplus gives a government scope for meeting a future crisis e.g. Reach the audience you really want to apply for your teaching vacancy by posting directly to our website and related social media audiences. A surplus budget shows that government is taking away more money than what it is pumping in the economic system. Government coffers swelled by £9.8 billion in the first month of the decade, the Office for National Statistics said. Balanced Budget – A government budget is assumed to be balanced if the expected expenditure is similar to anticipated receipts for a fiscal year. The path of the primary surplus and the composition of expenditure between current and capital expenditure will, of course, be endogenous to the long-term fiscal objective. Answer Economic stability can be achieved by correcting the situations of excess demand and deficient demand. This means that the government’s earnings from taxes levied are greater than the amount the government spends on … Capital receipts are government liabilities or decrease financial assets, such as the recovery of loans, market borrowing, etc. Where next for Norway's sovereign wealth fund? Management of Public Enterprises: He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas. What have they said? 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