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regla fiscal

English translation: tax revenue target

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:regla fiscal
English translation:tax revenue target
Entered by: Stuart Allsop
Options:
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22:29 Feb 15, 2009
Spanish to English translations [PRO]
Bus/Financial - Government / Politics
Spanish term or phrase: regla fiscal
I don't have much more context than this. It occurs in a series of news headlines from Chilean newspapers, but it's just a list of headlines, without the actual stories that go with them.

CONTEXT:

1. "Se aprueba “paquete legislativo” para enfrentar la crisis."
2. "Medidas implican estímulo económico por US$ 4.000 millones y reduce ***regla fiscal*** a 0% del PIB "
3. "Gobierno anuncia plan reactivador para generar 120 mil puestos de trabajo"


etc.
Stuart Allsop
Chile
Local time: 14:51
tax revenue target
Explanation:
This would correspond with the concept explained in the ref I just posted in the reference comments area. So, assuming the target was PIB + 1% (as set originally, in 2001) the text is saying it's been reduced to PIB + 0% (not to "0% *of* PIB", since that would mean we wouldn't have to pay any tax at all - it refers to the 'excess' (superavit), not the absolute amount.
Selected response from:

Robin Levey
Chile
Local time: 14:51
Grading comment
Thank you! That makes perfect sense.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1tax revenue target
Robin Levey
4fiscal rulepatinba
Summary of reference entries provided
by way of explantion ...
Robin Levey

  

Answers


51 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
tax revenue target


Explanation:
This would correspond with the concept explained in the ref I just posted in the reference comments area. So, assuming the target was PIB + 1% (as set originally, in 2001) the text is saying it's been reduced to PIB + 0% (not to "0% *of* PIB", since that would mean we wouldn't have to pay any tax at all - it refers to the 'excess' (superavit), not the absolute amount.

Robin Levey
Chile
Local time: 14:51
Native speaker of: Native in EnglishEnglish
PRO pts in category: 78
Grading comment
Thank you! That makes perfect sense.

Peer comments on this answer (and responses from the answerer)
agree  Michael Powers (PhD): This makes more sense in this context. "Tax revenue target" than "tax rate." Nicely done, mediamatrix - Mike :)
16 mins
  -> Thank you Mike, a scholar and a gentleman...
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
fiscal rule


Explanation:
Abstract: Fiscal rules enhance the credibility of economic policy, allow countercyclical and sustainable fiscal policies, and contribute to macroeconomic stability and economic growth. The Colombian government has used fiscal rules to limit the growth of expenditure and the indebtedness of sub-national governments, and to promote fiscal transparency and responsibility. However, their success has been partial. This paper presents and analyzes a quantitative fiscal rule of 1% of GDP in the structural primary surplus for the central government, in order to consolidate the country’s adjustment of public finances and reduce their vulnerability in the future. If that rule were implemented this year, the government would attain savings of 0.7% of GDP between 2008 and 2011, which would reduce the public debt level by about 3 percentage points of GDP by the end of the period.



patinba
Argentina
Local time: 14:51
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 214
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Reference comments


42 mins peer agreement (net): +1
Reference: by way of explantion ...

Reference information:
Recuadro 9.3 La regla fiscal de Chile - [ Translate this page ]El presupuesto de Chile para el año 2001 introdujo una regla fiscal que tiene como objetivo mantener un superávit fiscal estructural del 1% del PIB (aunque ...
www.iadb.org/res/ipes/2007/charts/Box9_3_sp.cfm - 4k - Cached - Similar pages

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Note added at 1 hr (2009-02-15 23:29:49 GMT)
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Re Stuart's comment below: You are mis-reading something, either in the Spanish or in my English: the Spanish refers to a superavit (surplus/excess) of 0% of GDP. So they are aiming to get tax revenues which are equal to the GDP, whereas previously they were aiming for GDP + 1%. That implies that our taxes may fall by 1% (assuming stable GDP), not that we will end up paying no tax at all. :(

Robin Levey
Chile
Native speaker of: Native in EnglishEnglish
PRO pts in category: 78
Note to reference poster
Asker: I guess it could be "tax rate", but I can't see the government "reducing the tax rate to 0%"! That just doesn't seem to fit.


Peer comments on this reference comment (and responses from the reference poster)
agree  Michael Powers (PhD): ... it introduced a tax revenue rate the objective of which is to keep the tax surplus at 1% of the GDP - thanks for the reference. I think this supports your answer nicely. Good job, mediamatrix - Mike :)
2 mins
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