The System of Financial Administration of Great Britain;
The book The System of Financial Administration of Great Britain; was written by author Westel Woodbury Willoughby Here you can read free online of The System of Financial Administration of Great Britain; book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is The System of Financial Administration of Great Britain; a good or bad book?
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The further contention is made that this system tends to stimulate the departments in their efforts to secure the maxi- mum revenue possible and to develop increased efficiency. The one contention is based on the assumption that it will de- crease the tax rate by increased returns for service ; the other is that it may prevent waste. The commission questions the force of this argument also. There is no added elasticity given, no added inducement. The expenditures of the serv- ices are as absolu...tely limited under this system as under that of gross appropriations. If any excess of receipts over esti- mates as presented in the estimates is received, such surplus cannot be used, but must* be surrendered to the Exchequer. If the estimated amount is not realized the services have a ground for submitting a supplementary estimate, and this in fact is the reason often alleged in applying to the Treasury to sanction a transfer or in calling upon Parliament for a fur- ther grant of funds. The really fundamental objection urged against the system, however, is that it complicates enormously the problem of making a consolidated statement of the income and expendi- tures of the Government.
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