FORUM: ECONOMIC COMMITTEE EC
QUESTION OF: The implementation of fiscal policies as a tool to combat inequalities
SUBMITTED BY: Indonesia
CO-SUBMITTERS:Philippines, Poland, Qatar, South Africa, Venezuela.
Defining fiscal policies as a means by which a government adjusts its spending levels and tax rates to monitor and influence a nation’s economy,
Recognising that adults that make up less than 10,000 US Dollars, amount for 64% of the world population,
Saddened by the fact that the world’s wealthiest individuals, those owning over $100,000 in assets, total less than 10 percent of the global population but own 84% of global wealth,
Fully informed that expansionary fiscal policy occurs when the governments act to cut tax rates and increasing government spending, shifting the aggregate demand curve to the right, whereas, contractionary fiscal policy occurs when governments raise tax rates whilst cutting government spending, shifting aggregate demand to the left,