Premium Essay

Budget Debate

In:

Submitted By aabraham
Words 4083
Pages 17
NEWSROOM DISCUSSION
Concept – Post Budget Discussion – 2011/2012
Moderator:

Script Layout:
Jason: The Moderator welcomes viewers back and states that “we’re just returning from a heated discussion on the the 2011/2012 budget between Ashleigh Abraham (Senior Economist, Central Bank), Sarah Suphal (Senior Lecturer, UWI), Marjorie Jewan (Senior Economist, Ministry of Finance) and Shereeza Ali (President of Chamber of Commerce) and right now we’re going to open up the telephone lines.....Caller Number One?!”

Caller one asks question for task 2.1
Jason: Thank you caller. For the sake of the wider public; society is faced with the economic problem of scarcity, which exists because factors of production or to use common vernacular…resources…are finite while consumers’ wants are infinite. Economic systems are the systems employed by the state or nation to allocate these scarce resources and apportion goods and services in the national community. Now, there are three basic economic systems, planned, market and mixed…so I would now invite the panel to shed some light on each of these and in particular help the caller to understand which applies to our local economy.

Marjorie: Ok…Jason so you mentioned planned economies, a planned is where the government has total control of the economy and the allocation of resources. Government and their central planners decide on what, how and for whom goods and services are produced. This type of governance is associated with socialist type economies namely Korea and Cuba. In a Planned Economy central planners decide what to produce based on assumptions of consumers needs of goods and services and they also focus on allocating resources for future consumption. Central planners also plan the production process once the outputs have been attained then the level of inputs are calculated. Government will also determine to whom

Similar Documents

Free Essay

'Ministers Have Considerable Power and Opportunity to Restrain a Prime Minister'. Discuss

...policy at various stages of the legislative process. The legislative process begins with the first reading of a bill, in which the original bill is published and read out to the commons. This is followed by the second reading, which provides opportunity for debate from MPs, which follows with a vote to proceed to committee stage. The committee stage gives the chance for a public bills committee, created specifically for that bill, to debate each clause of the bill, make amendments, and collect information from pressure groups etc. It then proceeds to the report stage in which, the information and amendments are fed back to the government, who can decide to implement or ignore the changes. It then proceeds to the third reading, in which no amendments can be made, and the bill is debated as a whole, followed by a vote. This process is then mirrored by the House of Lords, followed by a consideration of amendments, until finally it receives the royal assent. Backbench MPs can exert a lot of influence in the legislative process, both through the vote and the debate. Particularly if the government of the time does not have a strong majority. An example of this was in 2012 when 53 MPs defied Cameron, on the vote regarding EU budget cuts. However, because it is humiliating to the government at the time to lose the vote on legislation, there are particular measures to ensure backbenchers, are unlikely to rebel against the party line. This job is carried out particularly thoroughly by...

Words: 693 - Pages: 3

Free Essay

Budget Policy

...Process of Budget Policy Shiram Sam Economics of Public policy (ECN4010) ANC/EDP 2014 DEFINING THE NATIONAL BUDGET The budget is the most important economic policy tool of the national government. Far from being a mere compilation of income and expenditure, it is the blueprint for a nation's socio economic policies for each fiscal year. The national budget is thus the fundamental indicator of what government proposes to do and what objectives it pursues. It presents the government's financial plans for an upcoming period and is a comprehensive statement of the priorities of the nation. Which sectors of the economy will be expected to pay for said activities; how government will respond to economic disturbances in the short term; and who will be the direct and indirect beneficiaries of public services? The budget is about people and should respond to their needs. It is a way of determining how the Government seeks to fulfill goals for the welfare of people as set out in a country's Constitution/Bill of Rights, in international instruments and standards (e.g. MDGs), and in government policy statements. THE FUNCTIONS OF THE BUDGET The National Budget allocates resources, distributes wealth and income, and stabilizes the economy. The economic stabilisation function of the budget should be balanced against the need to ensure that there are adequate resources (including from external sources) to guarantee the delivery and development of essential services especially...

Words: 1927 - Pages: 8

Premium Essay

Budgeting

...Kenya Ratcliff American Intercontinental University FINA425 – Budgeting January 24, 2016 Abstract This is a research paper about financial budgets. This research paper talks about a management director would establish policies and system for a business and/or organization. This research paper will help to explain the different style of budgets, budget cycles and the guidelines rules for set up a financial budget for a business and/or organization. Unit 3 Individual Project Introduction This is a report from the management director to establish policies and systems for the new business, I Can Business Incorporated (ICBI). This report will be delivered to the board of directors of ICBI. This report will describe what a financial reporting system is and explain how management for ICBI should use an activity based budget instead of an operating budget. This report also gives examples of budget guidelines for ICBI. Describe the meaning and the components of a financial reporting system Financial reporting is the process of compiling statements that shows a glimpse of an organization’s financial “health” or status to management, investors and the government. There are four basic reports that are included in a financial report. There is a balance sheet, an income statement or sometimes called the profit & loss statement, a cash flow statement and a statement of shareholder’s equity. The balance sheet gives a detailed picture of the financial condition of a business at...

Words: 1764 - Pages: 8

Premium Essay

Acc-2280

...examples of planning activities include (1) estimating the advertising revenues for a future period, (2) estimating the total expenses for a future period, including the salaries of all actors, news reporters, and sportscasters, (3) planning how many new television shows to introduce to the market, (4) planning each television show’s designated broadcast time slot, and (5) planning the network’s advertising activities and expenditures. Five examples of controlling activities include (1) comparing the actual number of viewers for each show to its viewership projections, (2) comparing the actual costs of producing a made-for-television movie to its budget, (3) comparing the revenues earned from broadcasting a sporting event to the costs incurred to broadcast that event, (4) comparing the actual costs of running a production studio to the budget, and (5) comparing the actual cost of providing global, on-location news...

Words: 4275 - Pages: 18

Free Essay

Cross Cultural Communication

...Business Meetings Etiquette Appointments are necessary and should be made at least 2 weeks in advance. . Appointments may be made in writing or by telephone and, depending upon the level of the person you are meeting, are often handled by the secretary. . Do not try to schedule meetings during July or August, as this is a common vacation period. . If you expect to be delayed, telephone immediately and offer an explanation. . Meetings are to discuss issues, not to make decisions. . Avoid exaggerated claims, as the French do not appreciate hyperbole. Relationships & Communication French business behaviour emphasizes courtesy and a degree of formality. . Mutual trust and respect is required to get things done. . Trust is earned through proper behaviour. . Creating a wide network of close personal business alliances is very important. . If you do not speak French, an apology for not knowing their language may aid in developing a relationship. . It is always a good idea to learn a few key phrases, since it demonstrates an interest in a long-term relationship. . The way a French person communicates is often predicated by their social status, education level, and which part of the country they were raised. . In business, the French often appear extremely direct because they are not afraid of asking probing questions. . Written communication is formal. Secretaries often schedule meetings and may be used to relay information from your French business colleagues...

Words: 477 - Pages: 2

Free Essay

Study in Group

...The advantages and disadvantages study in group Nowadays , most of student rather like to study in group better than study individually. Study group is a group we form with 3 or 4 members to discuss certain topic. As you know , all things we did , there will be we get benefit or loss to us. Same for study group. Do you know the advantages and disadvantages of study group? Here ,I will list some for you. There are many advantages we can get from study in group. Firstly , we can share our opinion with another members. As you know , first stage in study group is brainstorming. From brainstorming , all of members must call out one or more ideas to complete the topic discussion. Here , we can collect and gather many ideas base on topic discussion. After this stage , we can discuss how to build the whole body of topic. Study in group make it better and easy if the topic is hard and complex. Secondly , advantage study in group is we can help other members who weak in studying. As you know , not everyone born with high intelligence same as us. There will some of them whose slow to understanding certain topic. So , we can share our notes or guide them if they do not fully understand what they have learn in class. When we teach them the topic , we also have benefit from it. Like the words I like the most , “sharing is caring”. But for the weak student , do not fully depends on your friends. We must find our study method to get along with other students , right? Here...

Words: 494 - Pages: 2

Free Essay

Redragonswillkillyou

...writing reviews writing a journal article review You may be asked to write a journal article review. Although this may be an unfamiliar exercise, it is not as complex a task as writing an essay requiring a lot of library research, and not the same as a review in The Canberra Times which is written for the general reader. Your journal article review is written for a reader (eg, your supervisor, lecturer or tutor) who is knowledgeable in the discipline and is interested not just in the coverage and content of the article being reviewed, but also in your critical assessment of the ideas and argument that are being presented by the author. Your review might therefore be guided by the following questions: Writing a journal article review Objectives Theory Concepts Argument Method Evidence Values Literature Contribution Style Conclusion What does the article set out to do? Is there an explicit theoretical framework? If not, are there important theoretical assumptions? What are the central concepts? Are they clearly defined? What is the central argument? Are there specific hypotheses? What methods are employed to test these? Is evidence provided? How adequate is it? Are value positions clear or are they implicit? How does the work fit into the wider literature? How well does the work advance our knowledge of the subject? How clear is the author’s language/style/expression? A brief overall assessment. So how can you begin to meet these demands? step 1: Get to know the article...

Words: 963 - Pages: 4

Free Essay

Colors

...what they are saying. I would describe this color as being gifted with connecting with people on a deeper level. Many people that are creative with vivid imaginations are most likely blue. This color is a true romantic and follow their heart. I would say I fit in this color in every aspect of its characteristics. I do everything I can to avoid conflicts. I don’t like to argue or debate at all. I’m very creative and love to talk with people. I have a big circle of friends and I value those relationships as well as the ones with my family. I tend to be the peacemaker in difficult situations. I think Blue has great qualities and a few that can be challenging. For example if you can use the good characteristics such as: empathy, sensitivity, accepting and be sympathetic when talking and listening to people this is an excellent quality to have. I think most people would be more likely to confide in you and ask you for help with issues as you won’t react in a negative, judgmental way to their issues. The negative effects of the color blue is the non-confrontational view. Sometimes there needs to be a debate in order to solve a problem. It’s part of the process to finding a resolution. I see myself learning to accept the debating process however it’s not natural to me at all. I learned a lot about myself through this exercise and how to communicate with others. I think my goals are going to be to try to identify what someone’s’ color might be and then use those strengths to communicate...

Words: 337 - Pages: 2

Free Essay

Checkpoint -Group Communication

...CheckPoint: Group Communication Stroker Ace XCOM/285 3/10/2012 CheckPoint: Group Communication For this check point assignment, I will be discussing how businesses can organize their employees/staff into teams, the benefits of doing so, and the communication within the group. Group communication differs from individual communication because you need to always be actively listening. Making sure that other group members get an opportunity to speak and share their opinions. Being an active listener can also help resolve conflict between one group member and another. Some examples of conflict resolution would be to make responsibilities and ground rules clear at the beginning, discuss problems as they arise, rather than letting them fester till people explode, and realize that group members are not responsible for each other’s’ happiness. One of the most important elements of a successful team is open and honest communication, with employees sharing opinions and information to ensure that all team members are certain of the business objectives and how to achieve them. Ways to foster group communication would be schedule regular meetings with the whole team, so that each member can provide feedback as to any concerns they may be having...

Words: 258 - Pages: 2

Free Essay

Aaaa

...Central Government This level of government works across the whole country and has specific duties. The UKs central government is situated in London; it is formed from MPs from the elected party which is currently the Conservatives and the Liberal Democrats. Procedures and Roles Questions- Benchmarking may submit oral and written questions. Debates- There is three kinds of debates that are brought up: 1. General- Where both the Houses of Commons and Lords hold debates in which members discuss government policy, proposed new laws and present matters. 2. Adjourned- An adjourned vote is a way in which the Commons can debate but do not have to vote. 3. Emergency- Emergency issues are discussed and debated, but this rarely happens. The most important role of parliament is to make new laws and The House of Commons play a big role in this. County Councils County Councils are responsible for all different roles within their county e.g. Kent. They are responsible for many important duties which include:- * Education • How much money is spent in a place of education e.g. Schools, colleges. • How places of education are maintained. * Refuse Disposal • Collecting their county’s rubbish and waste to dispose of it. * Planning and Development • Building Permission...

Words: 334 - Pages: 2

Free Essay

Women Talk Too Much

...Myth 6: Women Talk Too Much In the myth, “Women Talk Too Much,” Janet Holmes discusses the misconception that women talk more than men. Throughout the myth she proves that this overused statement is false. She finds that the environment, and different situations are what women’s discussions depend on, and ironically men tend to dominate them. Holmes discusses numerous studies that measured the amount of talking used by men and women in different contexts. The first study, which she called the “New Zealand Study,” found that men dominated talking time. This generally starts when children are attending elementary school (formal contexts). They found that two-thirds of the classroom discussion is taken by teachers and the rest is taken over by male students. The explanation for these findings is that males are more concerned than females about earning status and power. So they feel that by, “participating and verbally contributing,” will help to gain more status in formal contexts. Formal contexts meaning public situations (i.e. business meetings, seminars, committee meetings, etc.) The study also found that men tend to dominate discussions by patronizing women. For example, in this chapter they give a scenario of a work meeting. In the meeting the woman discusses an issue and is interrupted by a male colleague. He interrupts by saying, “I think what Anne is trying to say Roger is….” By interrupting, he’s putting across a message that he knows better (a way of trying...

Words: 619 - Pages: 3

Free Essay

Visual Argument

...and encountered argument I really didn’t know what to think except that most people argue about one thing or another (happens a lot with my brother and myself), but that I’ve read the chapter I have I a new respect for what it takes to put together an argument to make people understand your side of an issue. 2) Argument is everywhere. This statement true do to the fact with all the things happen now a days people are arguing about just about everything from the government passing a law that allows them to spy on people, or that people believe that all states should follow Washington and Colorado in legalizing marijuana. 3) A traditional argument is based off the ideal of winning the argument, for example when there is a presidental debate in which both side try to prove the other one wrong. An example of consensual argument is when a group looks at all side of an arugment and trys to come up with a consenus on whos ideal help/benefits most or all people involved. 4) The conditions in which an argument works best is when there are the following, 1. An issue (a central focus point), 2. An arguer (someone who knows about the issue and is motivated to initiate an argument), 3. An audience ( people that are willing to listen to the argument weather they be friendly or hostile), 4. Common ground ( an effective argument nust have some kind of common ground between the audience and arguer that is relevant to the issue), 5. A forum ( the ability to be creative and know that they...

Words: 350 - Pages: 2

Free Essay

Importance of Team Work

...Introduction Doing teamwork is never easy. Different people of various backgrounds come together, frictions are inevitable and conflicts are bound to happen. In the upcoming surveying studio sessions, we are going to work as a team, either to hold a discussion or to do a group work. Before we get started, just like doing any thing else, we have to have a direction. Therefore, we came up with this report. It presents the possible problems that we may encounter in our future groupwork, and we will also provide solutions to each respective problem. In the followings, the problems identified are categorized into three main parts, namely discussion, working after meeting and general problems. Discussion Meeting is an essential element in collaborative work. Through meetings, team members can share their views and opinions on the groupwork. Members can also know more about the strengths and weaknesses of their partners so as to achieve a better division of labour. Besides, meetings can foster communication and understanding among group members which helps to develop a harmonious team spirit and a sense of belongings. (1) Side-tracking In group discussions, we always come up with discussing topics outside the original themes. The reason why side-tracking occurs in discussion is group members are bored with the original topics. The formal format as well as the atmosphere of the meetings often boresteam members especially after the discussion has been going on for a long period...

Words: 328 - Pages: 2

Premium Essay

Miss

...F ACTSHEET Performance Discussions A performance discussion is the process that takes place between an employee and their supervisor to develop and review the employee’s work goals and identify development needs to support the achievement of their goals. These discussions are a fundamental tool for building and managing performance. The form and focus of the discussions vary according to the stage of the performance management cycle, but the principles remain the same. There should be at least one discussion to develop an employee’s performance plan, and at least one – but preferably two or three – discussions to review employee achievements. The key elements AgEnDA DiALogUE FoCUS VALUE • Have a clear agenda • For example, to: – that is, an agreed purpose for meeting. develop a performance plan, to address an issue, or to discuss career aspirations. • Be an open, two-way • Focus on the dialogue in which feedback is given and received. ask, listen and help their employees to learn. employee and the matter for discussion. • Leave the employee feeling empowered and valued. • Managers need to The key question Getting employees involved The employee needs to be an active participant during performance discussions. As a manger, you may need to encourage employees who are reluctant to participate. One way to achieve this is to use the STAR approach and ask questions to engage your employees in the process. What things are making your job...

Words: 660 - Pages: 3

Premium Essay

Bis 261 Case Study

...participation, he should put together a survey or questionnaire about the service of the system where customers are able to check off the box that would benefit them as users of the system. By collecting data from customers, this will give the Brokers and Project Manager a better idea of how to meet the needs of their customers. 3. While Edward considers what stakeholder he should include in the discussion of the project, he all needs to focus on the planning phase as follow: * The scope of the project, which are the specific requirements * The work breakdown into the task and sub-task of the project * Project schedule development, which specifies the entire schedule of the activities detailing their sequence of execution * The budget plan, which is the cost to be incurred in the completion of the...

Words: 256 - Pages: 2