ASK your Central BANK!

[BusterBunny]

The EUTOPIA Central Bank is proud to present it's new web site (unfortunately, due to problem with domain registry on the internet, we are forced to use this adress for our site).

This site is here to inform people about information regarding past government budgets, and various economic data. You can ask about economical outlooks, as well as the stock market.

If you have a question for us, please don't hesitate to press the "Post Reply" button, and the question will be sent directly to the appropriate analyst.

Please be advised that the EUtopia Central Bank is an office directly independant of the government, though it does work cooperatively with the gouvernment.

Regards,
Jean Guyon, governor of the EUTOPIA Central Bank.

 

[Pero Coveilha]

Fine
As you know, the Ministery of Heritage and Social Affairs has begun negociations with the social partners
We need to know more about wages, for instance
1/ what is the EUtopia currency unit?
2/ What is the amount of the average wage? and in the public service?
3/ Is there a minimum wage? and in the public service?
4/ what is the amount of the social contributions (% of the gross wage, % of the work cost)
that's enough for this time, but we'll have a lot of questions still

 

[BusterBunny]

Originally posted by Pero Coveilha
Fine
As you know, the Ministery of Heritage and Social Affairs has begun negociations with the social partners
We need to know more about wages, for instance
1/ what is the EUtopia currency unit?
2/ What is the amount of the average wage? and in the public service?
3/ Is there a minimum wage? and in the public service?
4/ what is the amount of the social contributions (% of the gross wage, % of the work cost)
that's enough for this time, but we'll have a lot of questions still

Dear sir,

in response to your question, I would refer to different documents that were published recently by our internal statistic dept.

1- Though in the street refered as the Eutopian dollar, our current currency is the Eutopian Crown. It's value is often refered as "similar to the US dollar", as its value is roughly 0.90 USD.
2- The average wage, not to be confused with the GDP per capita, is C17,000 or C24,000 per housegold. As our Gini index is around 40, our wealth distribution is limited compared to Europe and North America. So you can find very poor famillies and very rich ones.

In the public service, the revenue per familly is slightly higher, up to C20,000 per person. Of course, this is distributed between low level clerk jobs (C10,000) and prime ministers (over C60,000 plus some advantages).

3- Minimum wage is not clearly defined in our society. There is no law regarding minimum wage, as it is traditionnal for young people to help their familly in orchards and fishing boats. In the public service, the minimum wage is C5 per hour. Standard week is 35 hours of work. So, 52 weeks X 35 hours X C5 per hour = C9100 per year as minimum wage.

4- Social contributions is different depending on the wage. Someone at the minimum wage will not pay any income taxes. But, he will still pay for sales taxes, and tax on different polluting products, like gas.

Here's an idea of different taxes for the people in EUtopia:

Sales Tax: 5% of final product cost (price shown in point of sale)
Income tax: marginal tax rate.
0-10000: 10%
10001-20000: 25%
20000-infinity: 66%

Tax on polluting products:
Gas: 60%
Cigarettes: 50%
Tires: 20%
Cars: 10%

This is added over the Sales Tax.

Regards,
Jean Guyon

 

[Pero Coveilha]

Thank you Sir
We now have some of the basics to begin the work

OOC : I thought the standard of living was a bit lower, that's good news for the workers
35 hrs/week in the public service? I think i'll give a little twist to my professional career

 

[Murmurandus]

Originally posted by BusterBunny

...

0-10000: 10%
10001-20000: 25%
20000-infinity: 66%

...

[OOC:Euh, isn't that 66% a typo or a joke...]

 

[BusterBunny]

Originally posted by Murmurandus
[OOC:Euh, isn't that 66% a typo or a joke...]

For Every dollar you make OVER C20,000 , 66 cents go to the governement. This includes all kind of incomes, including direct salaries, stock market gains, dividends, etc.

The only gain that would not be taxed is the one you made by selling you house, or money that you got from a dead relative.

 

[unmerged(1522)]

[OOC:

BB, is this thread intended to replace the old National Bank thread? Just asking so I can keep the links in order. ]

 

[BusterBunny]

Originally posted by Melanchthon
[OOC:

BB, is this thread intended to replace the old National Bank thread? Just asking so I can keep the links in order. ]

OOC: I thought it had disapeared Well, I'd prefer to use a new set of economical data, esp. for the govt budget since it seems now that there's a bunch of stuff nationalized now and everything...

 

[unmerged(1522)]

Originally posted by BusterBunny
OOC: I thought it had disapeared Well, I'd prefer to use a new set of economical data, esp. for the govt budget since it seems now that there's a bunch of stuff nationalized now and everything...

[OOC:

Okie, I'll delete the link to the old thread then. ]

 

[unmerged(4130)]

I just want to ask when the macroeconomic data for 2002 will be available on your excellent website.
Thanks
rover

 

[BusterBunny]

Originally posted by rOver
I just want to ask when the macroeconomic data for 2002 will be available on your excellent website.
Thanks
rover

We are currently updating our web site with the current macroeconomics date. We are also conducting a parallel survey to know which kind of macroeconomic data our citizens want to see.

Any idea?

 

[unmerged(4130)]

Mainly GDP, inflation, intrest rates, national debt (perhaps our credit rating too), budget revenues and expenditures (it would be interesting to know if the results of state-owned companies are included too) and trade (surplus/deficit, main trading partners). That's all I can think of now.

 

[peo]

Crown??? wasn't it the thaler or daler?

 

[unmerged(1522)]

Originally posted by peo
Crown??? wasn't it the thaler or daler?

Nope. It used to be the Ducat.

 

[unmerged(4271)]

If you are still surveying for data, I'd be interested in past government budgets. It seems we have a very large government with extensive programs and many ambitious new projects in the works.

Not that any of the existing progams are bad, I'm just curious how much more we can expand under the current revenue forecast.

Do we need to cut back to afford new programs, are we in danger of defecit spending, do we need new revenues, can taxes be cut?

Etc., Etc.

Thanks!