FW: finance Information
kann...@bb.go.th
อันนี้เป็นข้อมูลเพิ่มเติมเกี่ยวกับด้านระบบการเงินการคลังนะคะ สืบเนื่องจากคำถามน้องแก้วที่ต้องการรู้เรื่องของหนี้สาธารณะค่ะ ใครไม่สนใจจะอ่านก็ผ่านได้นะคะ
ปิ๋ว
________________________________________
From: Debbie Laing [debbie...@nationalschool.gsi.gov.uk]
Sent: Friday, June 24, 2011 2:26 PM
To: กัณวีย์ สืบสุข
Cc: Sue Treharne
Subject: finance Information
Dear Kannawee,
Apologies for the delay in getting back to you it has taken a while to sort out the answers to your question.
Question: How is the debt covered is budgeting? i.e. bonds
The principal (i.e. gilts issuance) appears nowhere in the budgeting or Estimates system – it’s regarded as financing and doesn’t need specific parliamentary approval. Interest on government bonds is charged to resource AME in the budgeting system, but again does not appear in the Estimates – it’s paid out of the National Loans Fund (where the legislation gives the Treasury the power to act as it thinks fit without it going through the annual appropriation process). This has always seemed a bit undemocratic to me, but that’s how it is.
Incidentally, the annual interest on government borrowing is a “standing service” of the Consolidated Fund, and, as such, is paid annually, under standing legislation, from the Consolidated Fund to the National Loans Fund (from where the cash is actually paid to the holders of government bonds). The point is that current taxes (which go into the Consolidated Fund) are meant to meet the interest cost. Sorry if that’s a bit complicated, but that’s how it is done.
Also the links you requested:
http://www.hm-treasury.gov.uk/d/managing_taxpayers_money_wisely.pdf - managing taxpayers money wisely
http://www.nao.org.uk/publications.aspx- NAO reports on government
http://www.hm-treasury.gov.uk/psr_mpm_index.htm- managing public money
I am sure this was everything but if you want anything further, please let me know.
It was really nice to meet you all.
Kind regards,
Debbie Laing MSc FCA
Senior Finance Lecturer
T: 01344 634131
M: 07917 263360
National School of Government
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