3026 Wiltshire national budget

The 3026 Wiltshirian Commonwealth national budget was delivered to the National Assembly by chancellor Basil Lethbridge on Monday 1 December 3025. Subtitled Fixing the Foundations for a Strong Economic Recovery, the budget became the groundwork for the largest reformation of fiscal and economic policy in Wiltshirian history. The budget abolished the income tax, the national insurance tax, and all value-added sales taxes, replacing them with the Universal Standard Tax (UST). Additionally, the budget made allowances for the largest sell-off of public services to private providers in history.

Additionally, the budget slashed capital expenditure on new schools, hospitals, and public services, leaving significant openings for deals for private financing. The budget cut the national minimum wage to 7.50 cm per hour, down from 11.25 as set in 3020.

The budget was passed into law on 1 December 3025 and was one of the last two major pieces of Beau Martin's second ministry before his resignation on 1 January 3026, the other being the passage of the Pan-Doggerland Free Trade Agreements with Paxem and the Doggerland Covalence Mechanism (DCM).

Overview

Fiscal and economic outlook
Estimated Population	5.2 million
Working-age adults	4.4 million
Growth Domestic Product (GDP)	116 billion cm	(+4.4% from 3025)
GDP per capita	22,300 cm	(-53% from 3021)
Average annual income	26,360 cm	(-67% from 3021)

Debt, deficit, revenue, and expenditure
Public debt	120 billion cm	103% of GDP
Debt servicing bill	4.64 billion cm	9.28% of public expenditure
Estimated revenue (3026)	37.8 billion cm	32.6% of GDP
Planned expenditure (3026)	50 billion cm	43.1% of GDP
Allocated deficit	12.2 billion	10.5% of GDP

The Universal Standard Tax (UST)
Income (cm)	Rate
0-7500	0%
7,500+	27.5%
Expected to raise 21.5 billion cm

Revenue souces
Source	Revenue (billion cm)	%	Detail
UST	21.5	57.03%	27.5% on income over 7,500 cm per year
Corporation Tax	4.1	10.88%	10% on corporate profits
Capital Gains Tax	0.9	2.39%	10% on gains over 10,000 cm
Foreign Aid flows	4.5	11.94%	Non-fixed, estimate
Wiltshire Reserve raid	3.75	9.95%	From a total raid of 7.5 billion, split over 2 years

Breakdown of public expenditure by department

Government department	Areas of responsibility	Allocated budget for current spending (billion cm)	Allocated capital investment (billion cm)	Total expenditure (%)
Cabinet Office	Executive coordination, recovery oversight and management, national reconciliation Intergovernmental communications Security briefing (COBR)	1.3	0.05	1.35 (2.98%)
National Assembly	Legislative operations, reconstruction of parliamentary estate	0.6	0.01	0.61 (1.34%)
Foreign Office	Diplomacy, aid coordination, rebuilding external relationships Managing Wiltshire's relationship with the Doggerland Covalence Mechanism (DCM) and Holy Roman Empire (HRE)	0.4	0	0.4 (0.88%)
Commonwealth Security Office	National defence, demobilisation, veteran reintegration, intelligence network reform	4.13	0.35	4.48 (9.88%)
Home Office	Internal security, policing, border control and immigration, transitional justice, and Wiltshirianification	4.2	0.3	4.5 (9.92%)
Health Office	Hospitals, trauma care, epidemic control, mental health support	7.5	0.025	7.525 (16.59%)
Education & Social Policy Office	Rebuilding the public education sector, school reconstruction and renationalisation, literacy and numeracy drives	8.75	0	8.75 (19.29%)
Energy & Economy Office	Power grid reconstruction, the industrial restart, investment incentives, zoning laws Operational budget for the Progress Office	2.8	1.3	4.1 (9.04%)
Environment, Conservation, & Climate Office	De-mining, land restoration, water quality, reforestation	0.6	0.6	1.2 (2.65%)
Cities, Communities, & Local Government Office	Local governance communication & coordination Municipal reconstruction Culture and languages Gender equality	1.5	0.75	2.25 (4.96%)
Constitution & Democracy Office	Electoral reform, civil service rebuilding, transparency initiative, constitutional oversight	0.08	0	0.18%
Justice Office	Courts, transitional justice tribunals, prisons, prison reform	1.3	0.25	1.55 (3.42%)
Non-departmental allocated expenditures	Debt interest, emergency reserve and discretionary fund, post-war compensation fund	4.64
Total expenditure		50.0 billion cm