Fiscal Responsibility
/ˈfɪskəl rɪˌspɒnsɪˈbɪlɪti/
Definitions
- (n.) The legal and ethical obligation of governments or organizations to manage financial resources judiciously, maintaining balanced budgets and accountability.
The government's fiscal responsibility ensured sustainable economic policies and avoided excessive debt.
Forms
- fiscal responsibility
Related terms
See also
Commentary
Often codified in statutes or constitutional provisions, fiscal responsibility clauses aim to prevent reckless public spending and promote transparency in financial management.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.