6
CurrentThe financial management principles
Part 1Preliminary
6 The financial management principles
The financial management principles are as follows —
(a)
funding for current services is to be provided by the current generation;
(b)
spending and taxing policies are to be formulated and applied so as to give rise to a reasonable degree of stability and predictability;
(c)
financial risks are to be managed prudently;
(d)
spending and taxing policies are to be formulated and applied with consideration to the effect of these policies on employment and the economic prosperity of the State.
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