1911 Budget
Taxes:
Poor: 67%
Middle: 65%
Rich: 65%
Corporate Tax Rate: 45%
((This is the rate that corporation profits are taxed at))
Expenses:
Industrial Subsidies: The Office of Finance recommends that Subsidies be given to all existing factories that have not closed.
Stockpile:
Land: 50%
Naval: 30%
Construction: 25%
Other Expenses:
Education: 70%
Administration: 50%
Social Spending: 0%
Military Spending: 90%
Tariffs:
Tariffs: 0%
Fund allocation:
Money is allocated for the expansion of the military.
Contingency 1: Debt
Should the treasury ever fall below £1000 in circumstances of a deficit, all strata's will have taxes increased in 5% increments until they reach 75% nominal tax rate. If this fails then the land stockpile shall be reduced to 30%. If this fails to reach a surplus, then the Military Spending shall be reduced to 60%. If this fails to reach a surplus, Education shall be reduced to 50%. If this fails to reach a surplus, then Administration shall be reduced to 30%. Should this fail, the Military Spending shall be reduced to 50%. If this fails to reach a surplus, Education will be further reduced to 30%. If this still fails to reach a surplus, taxes will be increased by increments of 5% until a surplus in achieved. Should this fail tariffs will be increased by 5% until a balance is achieved.
Contingency 2: War Outside or Inside the Nation ((the later is only applicable to large scale rebellions should they occur))
In the event the Kingdom of Italy be involved in a state of war, foreign or domestic, the Land Stockpile will be increased to 100%, in the event the war requires significant naval action the naval stockpile will also be increased to 100%. In order to compensate for budgetary deficits in this incident, taxes should be increased by 5% until a balance is achieved. If this fails Education and Administration will take 5% spending cuts until they are at 50% and 25% respectively or until a balance is achieved, this failing tariffs will be increased by 5% until a balance is achieved, failing this, administration, education and social spending will take 5% cuts until they reach 0% or a balance is achieved. If balance is not achieved, the navy will be immediately docked and funding slashed to bear minimum, this failing Military spending will take cuts of 5% until it reaches 0% or a balance is achieved, this failing military stockpile will take 5% cuts until it reaches 50%. If all previous contingencies fail, notify the cabinet immediately to see if the war is able to be terminated. On the conclusion of the state of War, civil or external, military spending and the stockpile, taxes and tariffs are to be reduced to the pre-war level and Contingency 1 applies as normal. Contingency 2 supersedes Contingency 1.
Contingency 3: Surplus in reference to surplus greater then 200 pounds per day
If a significant surplus is achieved tariffs will be reduced in increments of 2% until the tariff rate reaches 0%. If teh suprlus is still greater than 200 per day then taxes will be decreased on all strata's by increments of 1% until the nominal tax rates reach 40%. If the surplus is still greater then 200 per day and the government is constructing buildings, building ships or recruiting troops the construction spending will be increased until the surplus is less then 200 per day. After the building is done it will be reset back to 25%.
Contingency 4: Massive debt
If the government accrues debts which interest payments cost more then 20% of the daily budget then Social spending, education, administration will see 5% cuts until the debt is paid off. If the government is still running a deficit, or anyway unable to pay the debt taxes and tariffs will see 5% increases until the deficit ends.
Contingency 4 supersedes all other contingencies
