Budget

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1. Planning.

Any plan expressed in monetary terms.


2. Taxation.

The level of taxation minus government spending.

A budget surplus is where taxation exceeds government spending.

A budget deficit is where government spending exceeds taxation.


3. Taxation - UK.

A formal statement - normally made annually - by the UK Chancellor of the Exchequer setting out the government's taxation proposals for the next fiscal year.


4. Government taxation - all jurisdictions.

Similar formal statements made by the finance ministers of other governments, or by the responsible officers of other organisations.


See also