Sound principles must guide governments in the process of taxation, says Ed Balls, Former UK Shadow Chancellor of the Exchequer and Senior Fellow at Harvard Kennedy School. When citizens pay taxes, governments must not only be accountable, but also publically clear on the outputs. As Mr. Balls says, “The link between what you pay in as a citizen and what you get out as a citizen is fundamental to trust and to delivery, and that is what accounting is all about—making sure we match the money we get and the spending we make.”
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