Word: surplus
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...expected to apply another brisk dose of resolution to the pound's neurotic behavior. As her Treasury aides pointed out, inflation in Britain has fallen in the last year from 12% to about 6%. Government budget deficits have been brought under control, the trade balance is in healthy surplus, and unit labor costs are rising by a modest 5½% a year. Britain, said Tory Leader Cecil Parkinson, was "a very safe place to keep your money secure." If necessary, the Prime Minister will make the message clearer. After saving the Falklands, Thatcher hardly seemed likely...
...differences between the outgoing and incoming Governors go beyond style. While both took office during recessions, the current one is far worse than that of early 1975. Brown inherited a $500 million budget surplus from Reagan. Deukmejian faces a $1.5 billion deficit left by Brown. The deficit was caused mainly by the recession and by the state aid Brown gave to maintain city and county services after the celebrated Proposition 13 of 1978 had curtailed property tax revenues...
...large measure, he has succeeded. When he took over in 1974, the deficit was $500,000 and rapidly mounting, threatening the troupe with eventual extinction; last season, despite a budget of $63 million, the Met had a $100,000 surplus.* "We have to raise an enormous amount of money, more than $20 million in annual gifts, to keep the company going," he says. "Since I've been here, fund raising has grown from one man with a couple of secretaries to an office that will soon have 30 or 40 people...
...Jersey's treasurer, Kenneth Biederman, to your article "Living Beyond Their Means" [Nov. 8] with amazement. Governor Kean, who was elected on a campaign promise not to raise the sales tax, now wants to increase the tax from 5% to 6%. If this state had a budget surplus at the end of fiscal 1982, as Biederman claims, why do we need increased taxes...
...letter to the editor, George Fischer, executive Cabinet secretary, office of the Governor of Kentucky, claims Kentucky finds itself with a $42 million surplus. On Dec. 1, in the Louisville Times, Fischer is cited as saying there will be an "extremely serious" shortfall of $75 million this fiscal year. This is an example of why horse racing and politics are so closely knit here. We play both with careless abandon...