the amount of extra money that a government needs because it has spent more money than it earned: The White House says the federal government will run a $9 trillion budget deficit over the next decade. Therefore, budget deficits, by definition, are equivalent to adding net financial assets to the private sector, whereas budget surpluses remove financial assets from the private sector. Only eight times in the past 60 years has Britain's budget been in surplus. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. A budget surplus is where government brings in more money than it spends. budget surplus Refers in general to an excess of income over expenditure , but usually refers specifically to the government budget , where it is the excess of tax revenue over expenditure (including transfer and interest payments). Accessed 22 Dec. 2020. Budget surplus is the amount by which a government's income which primarily comes from taxes and duties exceeds its total expenditures such as defense, social security, science, energy and expenditure on infrastructure, etc. Individuals prefer to call a surplus “savings.” When the economy is doing well, there is less demand for government services since more people are employed. He's making a quiz, and checking it twice... Test your knowledge of the words of the year. The opposite of a budget deficit is a budget surplus. Federal Surplus Definition. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget surplus means that the budget is likely healthy, at least in the short-term, and that the government, company or individual it regards does not have to resort to borrowing. Post the Definition of budget surplus to Facebook, Share the Definition of budget surplus on Twitter. There is a surplus of workers and not enough jobs. Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! Definition and synonyms of surplus from the online English dictionary from Macmillan Education. In other words, it receives more in taxes than it spends on defence, welfare, or education. When the government’s revenue exceeds its … : more money than is needed to pay for planned expenses The state currently has a $3 million budget surplus. the amount of extra money available to a government because it has spent less money than it earned: The government has projected a budget surplus of £7 billion by April. Budget surpluses are quite rare in modern economies because of the temptation for politicians to spend more money and cut taxes. “Budget surplus.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/budget%20surplus. 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The term often refers to a government's financial state, as individuals have "savings" rather … Noun If there is any surplus, it will be divided equally. The amount by which revenue exceeds expenditures. A budget surplus occurs when a government is running efficiently. The amount by which government revenues exceed government spending. A budget deficit occurs when an government spends more money than it takes in. When a governmental entity has revenues from taxes, fees, and other impositions which exceed its budgeted outlays, it is said to have a budget surplus. However, businesses and even families can run surpluses and deficits, which come into play when planning financial strategies and investments. More generally, it is a budget that has no budget deficit, but could possibly have a budget surplus. It may happen when the government starts to collect fewer taxes or starts spending more. Definition: Budget surplus refers to the amount by which a company’s revenue exceeds its expenses. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). It is an important tool of fiscal policy. Enrich your vocabulary with the English Definition … Budget surplus is a phenomena that is opposite of budget deficit. "Budget surplus" and "budget deficit" are terms most commonly used to describe a government's financial picture. View the pronunciation for surplus. Define budget surplus. Compare balanced budget, budget deficit. Define Budget surplus. Find more ways to say surplus, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. With a budget surplus, the government can use the surplus revenue to pay off public sector debt. In other words, it measures how much money the company has left over after paying all of its expenses. This term is most commonly used to refer to government spending, but it can also be applied to companies and individuals. A budget surplus means that the budget is likely healthy, at least in the short-term, and that the government, company or individual it regards does not have to resort to borrowing. The amount by which revenue exceeds expenditures. A company must have a budget surplus in order to make a profit. It is generating more revenues than expenses and therefore has money left over. This is the British English definition of surplus.View American English definition of surplus. The amount by which government revenues exceed government spending. A budget surplus is simply having more income than expenses during a specific period of time, such as a financial quarter or fiscal year. 6, Interest rates can be cut and Bill Clinton's budget surplus spent. budget surplus synonyms, budget surplus pronunciation, budget surplus translation, English dictionary definition of budget surplus. Can you spell these 10 commonly misspelled words? A budget surplus occurs when tax revenue is greater than government spending. budget surplus definition in English dictionary, budget surplus meaning, synonyms, see also 'Budget',budget for',budget account',budget deficit'. Another word for surplus. https://financial-dictionary.thefreedictionary.com/budget+surplus. Budget surplus. When the government’s revenue exceeds its spending. A company must have a budget surplus in order to make a … Learn a new word every day. A balanced budget (particularly that of a government) is a budget in which revenues are equal to expenditures. A budget surplus is the opposite of a budget deficit which is where the government spends more than it brings in. means the amount by which sums appropriated exceed actual expenditures and obligations for a fiscal year; obligations and expenditures are held below the level of actual receipts creating savings within the authorized budget. The budget surplus is the scenario when government earning is more than the spending whereas, in the budget deficit, government spending is more than its Income. 'Nip it in the butt' or 'Nip it in the bud'. 'All Intensive Purposes' or 'All Intents and Purposes'? Delivered to your inbox! Test Your Knowledge - and learn some interesting things along the way. U.S. reports record budget surplus for FY 1999 There had been speculation among some players that the BOJ would leave a smaller surplus in the market, because on Friday last week, the BOJ left a surplus of 700 billion yen, down from the 1 trillion yen surpluses it had left the 11 consecutive trading days before then. 5, The budget surplus of A$8,107 million was the fourth consecutive surplus, and would be used to reduce overseas debt. Recent Examples on the Web: Noun When Schowalter left the Dayton administration in 2014, after 20 … A budget surplus means the opposite: in total, the government has removed more money and bonds from private holdings via taxes than it has put back in via spending. A budget surplus occurs when income exceeds expenditures. What made you want to look up budget surplus? Change your default dictionary to American English. This is also known as a positive budget balance. In both, the scenario money is flown in the economy and purchasing power increases. Definition of budget surplus. A budget is a financial document, which forecast the future income and expenses, further it illustrates the ways in which income is going to be received, and how that received income is going to be shared or allocated among the expenses that are to be incurred. Budget surplus definition: the amount by which government income from taxation , customs duties , etc, exceeds... | Meaning, pronunciation, translations and examples All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. When a surplus occurs, revenue exceeds current expenses and results in excess funds that can be … 7, A budget surplus of EC$12,300(sentencedict.com),000 was predicted on the current account. The opposite of a budget deficit is a budget surplus. Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Most Popular Terms: Earnings per share (EPS) Beta; Market capitalization; Outstanding; Market value; Federal Surplus refers to the federal government's budget surplus that results when the government spends less in a fiscal year than it receives in revenue. Budget Surplus vs Budget Deficit. Thus, neither a budget deficit nor a budget surplus exists (the accounts "balance"). Definition. Please tell us where you read or heard it (including the quote, if possible). Budget Surpluses synonyms, Budget Surpluses pronunciation, Budget Surpluses translation, English dictionary definition of Budget Surpluses. 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