Fiscal incidence also produces regular estimates of the impact of government taxes and spending on household income. Fiscal incidence Fiscal incidence is a concept within public finance, a sub-discipline within economics, that refers to the combined overall economic impact of both government taxation and expenditures on the real economic income of individuals. While taxation reduces the economic well-being of individuals, government expenditures raise their economic well-being. Fiscal incidence is the term for the overall impact of government taxing and spending considered together. In theory, governments withdraw resources from society in the form of taxation, and contribute resources back into society in the
Irish Fiscal Advisory Council in the United Kingdom (also formed after the financial crisis), and other equivalent members of the "Network of European Union Independent Fiscal Institutions" (which IFAC joined in September 2015). IFAC is structured as a Council of 5 members (one Chairperson) and a supporting analytical team of circa 6. The formal mandate of the Irish Fiscal Advisory Council (per IFAC website) is to: IFAC has been well received by Irish financial commentators and its publications are widely covered in the Irish media. The key mandated publications of the Irish Fiscal Advisory Council are: The Irish Fiscal Advisory Council has commenced an