fiscal-impact

Vocabulary Word

Definition

'Fiscal impact' refers to how a certain decision or policy affects finances or financial measures such as revenue or spending. It's all about the money!

Examples in Different Contexts

In public policy, 'fiscal impact' refers to the effect of government actions on public finances, including revenue and spending. A policy analyst might discuss, 'The proposed tax reform's fiscal impact is projected to increase government revenue by 10% over the next five years.'

Practice Scenarios

Economics

Scenario:

The proposed tariffs on imported goods are likely to shift the balance of our local industries. How should we prepare for this scenario?

Response:

Agreed. Understanding the fiscal impact of the proposed tariffs will help us create better strategic plans for local industries.

Public-Policy

Scenario:

The new immigration laws might change the face of our workforce substantially. We should evaluate their potential effects thoroughly.

Response:

Indeed, we should execute a comprehensive fiscal impact study to estimate the costs and benefits of the proposed immigration laws.