The geographies of access to enterprise finance: the case of the West Midlands, UK

The geographies of access to enterprise finance: the case of the West Midlands, UK, Regional Studies. Whilst there is a long history of credit rationing to small and medium-sized enterprises (SMEs) in the UK, the financial crisis has seen banks retreat further from lending to viable SMEs due to a reassessment of risk and lack of available capital. In so doing, the credit crunch is thought to be creating new geographies of financial exclusion. This paper explores the financial inclusion of enterprise through community development finance institutions (CDFIs) which provide loan finance to firms at the commercial margins in the West Midlands, UK. The paper concludes that CDFIs could partially address the financial exclusion of enterprise as an additional, alternative source of finance to that of mainstream banks

Assessing relative spending needs of devolved government: the case of healthcare spending in the UK

The system used to allocate resources to the UK's devolved territories, known as the Barnett formula, takes no account of the relative expenditure needs of the territories. In this paper we investigate the prospects of developing a needs based model for allocating healthcare resources to Scotland, Wales and Northern Ireland. We compare the method used by the National Health Service in England to allocate resources geographically within England with the method used by the NHS in Scotland to allocate resources to territorial Health Boards. By applying both approaches to the UK's devolved territories, we are able to examine similarities and differences in the two methods, and explore implications for an assessment of the relative healthcare expenditure need of each territory. The implications for the way in which revenue is distributed to Wales, Scotland and Northern Ireland are discussed

From design to operations: a process management life-cycle performance measurement system for Public-Private Partnerships

YesPublic–Private Partnerships (PPPs) have become a critical vehicle for delivering infrastructure worldwide. Yet, the use of such a procurement strategy has received considerable criticism, as they have been prone to experiencing time/cost overruns and during their operation poorly managed. A key issue contributing to the poor performance of PPPs is the paucity of an effective and comprehensive performance measurement system. There has been a tendency for the performance of PPPs to be measured based on their ex-post criteria of time, cost and quality. Such criteria do not accommodate the complexities and lifecycle of an asset. In addressing this problem, the methodology of sequential triangulation is used to develop and examine the effectiveness of a ‘Process Management Life Cycle Performance Measurement System’. The research provides public authorities and private-sector entities embarking on PPPs with a robust mechanism to effectively measure, control and manage their projects’ life cycle performances, ensuring the assets are ‘future proofed’

The political sustainability of climate policy: the case of the UK Climate Change Act

This paper assesses the forces working for and against the political sustainability of the UK 2008 Climate Change Act. The adoption of the Act is seen as a landmark commitment to action on climate change, but its implementation has not been studied in any depth. Recent events, including disagreements over the fourth carbon budget and the decarbonisation of the electricity sector, shows that while the Act might appear to lock in a commitment to reducing emissions through legal means, this does not guarantee political lock-in. The assumption, made by some proponents of the Act, that accountability of political leaders to a public concerned about climate change, via Parliament, would provide the main political underpinning to the Act is criticised. An analysis of alternative sources of political durability is presented, drawing on a framework for understanding the sustainability of reform developed by Patashnik. It is argued that the Act has helped create major institutional transformations, although the degree to which new institutions have displaced the power of existing ones is limited. The Act has produced some policy feedback effects, especially in the business community, and some limited investment effects, but both have been insufficient to withstand destabilisation by recent party political conflicts. The Climate Change Act remains at risk

The synergistic effect of cigarette taxes on the consumption of cigarettes, alcohol and betel nuts

<p>Abstract</p> <p>Background</p> <p>Consumption of cigarettes and alcoholic beverages creates serious health consequences for individuals and overwhelming financial burdens for governments around the world. In Asia, a third stimulant – betel nuts – increases this burden exponentially. For example, individuals who simultaneously smoke, chew betel nuts and drink alcohol are approximately 123 times more likely to develop oral, pharyngeal and laryngeal cancer than are those who do not.</p> <p>To discourage consumption of cigarettes, the government of Taiwan has imposed three taxes over the last two decades. It now wishes to lower consumption of betel nuts. To assist in this effort, our study poses two questions: 1) Will the imposition of an NT$10 Health Tax on cigarettes effectively reduce cigarette consumption? and 2) Will this cigarette tax also reduce consumption of alcoholic beverages and betel nuts? To answer these questions, we analyze the effect of the NT$10 tax on overall cigarette consumption as well as the cross price elasticities of cigarettes, betel nuts, and alcoholic beverages.</p> <p>Methods</p> <p>To establish the Central Bureau of Statistics demand function, we used cigarette, betel nut, and alcoholic beverage price and sales volume data for the years 1972–2002. To estimate the overall demand price elasticity of cigarettes, betel nuts, and alcoholic beverages, we used a seemingly unrelated regression analysis.</p> <p>Results</p> <p>We find that the NT$10 health tax on cigarettes will reduce cigarette consumption by a significant 27.22$10 health tax on cigarettes will reduce betel nut consumption by 20.07% and alcohol consumption by 7.5%.</p> <p>Conclusion</p> <p>The assessment of a health tax on cigarettes as a smoking control policy tool yields a win-win outcome for both government and consumers because it not only reduces cigarette consumption, but it also reduces betel nut and alcoholic beverage consumption due to a synergistic relationship. Revenues generated by the tax can be used to fund city and county smoking control programs as well as to meet the health insurance system's current financial shortfall.</p

The Success Story of the Eurozone Crisis? Ireland's Austerity Measures

This paper examines the response of the Irish government to the Eurozone fiscal crisis. This paper discusses the external financial assistance programme sought and implemented, economic recovery to date, and the impacts of austerity in Ireland. As Ireland nears the end of the Programme of Support' from Europe the contention that Ireland is a success story is explored. The paper reveals the primacy of financial cutbacks in the Irish response and the limited efforts at public management reforms

Department of Treasury and Finance: annual report 2015-16

DTF delivered a comprehensive agenda of projects and initiatives in 2015-16, demonstrating its leadership in economic and financial policy development and reform. The department also provided high quality advice to the Government to progress major infrastructure projects. DTF’s responsibility for whole of government services enabled significant procurement reforms, and delivered efficient and effective services to all Victorian Government departments and agencies. &nbsp; &nbsp

An independent assement of the Northern Territory's fiscal poisition and medium-term outlook

The Territory Government delivers services to a small and relatively dispersed population across a large land mass. The inherent diseconomies of scale and relative disadvantage and isolation of the Territory?s population, particularly in remote areas, mean that the cost of providing, and demand for, government services is significantly higher, especially on a per person basis compared to other jurisdictions. These expenditure challenges are relatively constant and do not fluctuate with economic conditions or funding cycles .Fiscal position and outlook -- Medium-term fiscal projections -- Economic context -- Fiscal strategy -- A plan for budget repair -- Appendix A: Scenarios -- Appendix B: A plan for budget repai