(Draft) Fiscal Responsibility Act

[Eternal Yerushalayim]

Fiscal Responsibility Act
Category: Furtherment of Democracy
Strength: Significant
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The World Assembly,

AFFIRMING the reserved powers of individual member nations, as well as their obligation to observe international law in good faith,

RECOGNISING the need for both national governments and the World Assembly to exercise thrift and implement fiscally- prudent policies,

BELIEVING this matter to be of both international and national concern, with potentially great effects on the stability of the international community,

DEFINING a balanced national budget as a situation in which a national government's revenues are equal to, or exceed, its expenditure,

HEREBY

STRONGLY URGES all member nations to maintain a balanced national budget,

DECLARES that individual member nations shall have the authority to take all measures necessary to maintain a balanced national budget, subject to the immunities recognised by existing international law,

MANDATES that, in order to facilitate the enforcement of the above clause, individual member nations shall retain full control over domestic government expenditure, and the apportionment of such, provided that the following requirements are entirely met:

a) Member nations' obligations to comply with existing international law continue to be fulfilled, in good faith,
b) Member nations can demonstrate that their fiscal policies are fair and responsible, and are, in addition, generally beneficial to their populations,

EMPHASISES that this resolution shall not affect the authority of member nations to legislate collectively in the future, through the World Assembly, provided that the following conditions are entirely fulfilled:

a) Member nations shall reserve the right to reject any specific allocation, on the international level, of domestic fiscal resources not explicitly covered under existing international law
b) The rights and obligations of individual member nations under this resolution, and other forms of existing international law, shall be protected
c) The actions of individual member nations alone are inadequate to achieve the objectives and benefits of collective legislation by the World Assembly

FURTHER EMPHASISES that this resolution shall not be construed to extend to any funding to and through the World Assembly General Fund, as well as other foreign and/or international entities.

[kenny]

No offense, but if member states want to bankrupt themselves, why not let them? The only potential effect on us I can see is the nations' ability to pay into the WAGF, but the WAGF isn't struggling.

Apart from that, the "EMPHASISES" clause appears to be applying conditions to future resolutions, which is illegal.