Budget surplus of $1.9bn.

Proposed by The Northsea Rally · Passed 11 Dec 2023

✅ Passed

Rationale

These reforms aim to stimulate economic activity through lower income taxes while restoring fiscal balance through significant spending cuts and a stronger focus on defence. The package reduces the annual deficit from $110.4bn to a $1.9bn surplus, improving fiscal sustainability while prioritising core government functions.

Figures show the previous budget where they changed the new value.

Annual Taxes

Earning band	Tax rate
Personal income tax: Low earners	14%
Personal income tax: Medium earners	18% 16%
Personal income tax: High earners	30%
Personal income tax: Elite earners	42% 35%

Annual Spending

Category	$ per capita	Peers	% of budget	Amount
Social Welfare	$1,220 $1,143	$1,046	8.9% 10.7%	$80.0bn $75.0bn
Retirement	$1,982 $1,829	$1,951	14.5% 17.0%	$130.0bn $120.0bn
Healthcare	$3,049 $2,591	$2,397	22.3% 24.1%	$200.0bn $170.0bn
Education	$1,829 $762	$1,652	13.4% 7.1%	$120.0bn $50.0bn
Housing	$610 $595	$606	4.5% 5.5%	$40.0bn $39.0bn
Justice, Police & Internal Security	$915	$682	6.7% 8.5%	$60.0bn
Defence	$1,067 $1,524	$827	7.8% 14.2%	$70.0bn $100.0bn
Environment & Climate	$305 $0	$235	2.2% 0.0%	$20.0bn $0.0bn
Business Support	$915 $0	$593	6.7% 0.0%	$60.0bn $0.0bn
Arts, Culture & Media	$274 $0	$258	2.0% 0.0%	$18.0bn $0.0bn
Foreign Aid	$152 $0	$70	1.1% 0.0%	$10.0bn $0.0bn
Roads & Highways	$490	$385	3.6% 4.6%	$32.1bn
Public Transport & Rail	$392	$305	2.9% 3.7%	$25.7bn
Energy Infrastructure	$294	$232	2.1% 2.7%	$19.3bn
Ports & Airports	$196	$157	1.4% 1.8%	$12.9bn
Total			100.0%	$898.0bn $704.0bn

Vote tally

National Assembly

Passed

53Yes 0No 47Not voted 100 seats

For: 53 / 100 filled seats (53.0%) — needs 50.0%

Against: 0 · Abstained: 0 · Not voted: 47

Party	Seats	Vote	Reason
Democratic Socialist Of The Northsea	16	Not voted
Liberal Center	31	Not voted
Northsea National Union	18	Yes	After a long conversation with TNR we came to this budget. Our budget as faced a deficit for a couple of months already in which our debt/gdp raised 0.4% in which if we take care of it, we could faced a credit reduction whic will hurt the economy in the long term. It isnt the prefect budget, we see reduction andd cuts in alot of our social programs but we are prioritising a surplus which later if we see any overpreformance at any sector it will divert to reducting the cuts we see in this budget now. Defense spending has been increased, and middle income families will face a tax relief.
The Northsea Rally Proposer	35	Yes	No reason given

Voting record

Every vote must state a public reason. Most recent first.

Northsea National Union

Voted Dec. 11, 2023

Yes

“After a long conversation with TNR we came to this budget. Our budget as faced a deficit for a couple of months already in which our debt/gdp raised 0.4% in which if we take care of it, we could faced a credit reduction whic will hurt the economy in the long term. It isnt the prefect budget, we see reduction andd cuts in alot of our social programs but we are prioritising a surplus which later if we see any overpreformance at any sector it will divert to reducting the cuts we see in this budget now. Defense spending has been increased, and middle income families will face a tax relief.”

Current budget Budget history