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178-527: Credible budgets, which are defined as statutory fixed term (generally one year) budgets auditable by parliament, were first introduced in the Netherlands in 1572, England in 1689, France in 1830, Denmark, Piedmont, and Prussia in 1848, Portugal in 1851, Sweden in 1866, Austria in 1867, and Spain in 1876. Credible budgets had two main effects: 1. They made parliament more likely to approve new taxation, and 2. They enhanced wartime military spending and increased

356-572: A Stuart ever had". Although historians generally accept James wished to promote Catholicism, not establish an absolute monarchy , his stubborn and inflexible reaction to opposition had the same result. When the English and Scottish Parliaments refused to repeal the 1678 and 1681 Test Acts , he suspended them in November 1685 and ruled by decree. Attempts to form a 'King's party' of Catholics, English Dissenters and dissident Scottish Presbyterians

534-1029: A Catholic dynasty following the birth of his son James Francis Edward on 10 June led a group of domestic opponents to issue the Invitation to William , seeking Dutch support to remove him. The Dutch States General and William were concerned that James might support Louis XIV of France in the Nine Years' War . Exploiting unrest in England and claiming to be responding to the invitation, William landed in Devon with an expeditionary force on 5 November 1688. As William advanced on London, James's army disintegrated and he went into exile in France on 23 December. In April 1689, while Dutch troops occupied London, Parliament made William and Mary joint monarchs of England and Ireland. A separate but similar Scottish settlement

712-497: A Catholic sympathiser named Anthony Farmer as president, but as he was ineligible under the college statutes, the fellows elected John Hough instead. Both Farmer and Hough withdrew in favour of another candidate selected by James, who then demanded the fellows personally apologise on their knees for 'defying' him; when they refused, they were replaced by Catholics. Attempts to create an alternative 'Kings Party' were never likely to succeed, as English Catholics made up only 1.1% of

890-414: A Tory, and Devonshire , a Whig; Henry Compton, Bishop of London, for the church; Shrewsbury and Lumley for the army, and finally Russell and Sydney for the navy. They promised to support a Dutch landing, but stressed the importance of acting quickly. The Invitation was carried to The Hague on 30 June by Rear Admiral Herbert , disguised as a common sailor. Meanwhile, William's ally Bentinck launched

1068-765: A bridge between the King and Parliament, just as Walpole had done. During this time, Walpole also made two interventions in the Lords. The first was in January 1744 in the debate on Hanoverian troops being kept in British pay. Walpole prevented them from losing the troops. In his second intervention, Walpole, with fear of a Jacobite-inspired invasion in February 1744, made a speech on the situation. Frederick, Prince of Wales, usually hostile to Walpole, warmly received him at his court

1246-676: A campaign in Germany. At the beginning of September, an invasion remained in the balance, with the States General fearing a French attack via Flanders while their army was in England. However, the surrender of Belgrade on 6 September seemed to presage an Ottoman collapse and release Austrian resources for use in Germany. Hoping to act before Leopold could respond and relieve pressure on the Ottomans, Louis attacked Philippsburg . With France now committed in Germany, this greatly reduced

1424-549: A captain of the guard (John Porteous) who had commanded his troops to shoot a group of protesters. Though these events diminished Walpole's popularity, they failed to shake his majority in Parliament. Walpole's domination over the House of Commons was highlighted by the ease with which he secured the rejection of Sir John Barnard's plan to reduce the interest on the national debt. Walpole was also able to persuade Parliament to pass

1602-402: A coarse wit, which he was too free of for a man in his station, as it is always inconsistent with dignity. He was very able as a Minister, but without a certain elevation of mind ... He was both the ablest Parliament man, and the ablest manager of a Parliament, that I believe ever lived ... Money, not prerogative, was the chief engine of his administration, and he employed it with a success that in

1780-897: A committee investigated the scandal, finding that there was corruption on the part of many in the Cabinet. Among those implicated were John Aislabie (the Chancellor of the Exchequer), James Craggs the Elder (the Postmaster General ), James Craggs the Younger (the Southern Secretary ), and even Lords Stanhope and Sunderland (the heads of the Ministry). Both Craggs the Elder and Craggs the Younger died in disgrace;

1958-533: A considerable element of his Whig Party to the Opposition. After the general elections of 1734, Walpole's supporters still formed a majority in the House of Commons although they were less numerous than before. He maintained both his parliamentary supremacy and his popularity in Norfolk , his home county. In May 1734, he presented a new silver mace "weighing 168 ounces, gilt, and finely exchased, to

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2136-423: A correct indicator of the impacts. A budget can be classified according to function or according to flexibility. Line-item budgeting: In line-item budgeting (also known as the traditional budgeting), the government budget is divided into a list of items which the government plans to spend its money on. The expenditures often exceed the budget, but the majority of the spendings follows the budget plan. This approach

2314-427: A major battle to impose excise taxes on wine and tobacco. To reduce the threat of smuggling, the tax was to be collected not at ports but at warehouses. This new proposal, however, was extremely unpopular and aroused the opposition of the nation's merchants. Walpole agreed to withdraw the bill before Parliament voted on it, but he dismissed the politicians who had dared to oppose it in the first place. Thus, Walpole lost

2492-465: A manner disgraced humanity ... When he found any body proof, against pecuniary temptations, which alass! was but seldom, he had recourse to still a worse art. For he laughed at and ridiculed all notions of publick virtue, and the love of one's country, calling them the chimerical school boy flights of classical learning ; declaring himself at the same time, no Saint, no Spartan, no reformer . He would frequently ask young fellows at their first appearance in

2670-470: A means of allocating resources, a structure of checks and balances and a democratic political process. The taxpayers, who have the right to independent assets, are responsible for the financial provision of the State, which necessarily requires control of the State's finances and a legal procedure to ensure that government revenues and expenditures do not deviate from the interests of the taxpayers. In conclusion,

2848-461: A member of the local gentry and a Whig politician who represented the borough of Castle Rising in the House of Commons . His wife Mary Burwell was the daughter and heiress of Sir Geoffrey Burwell of Rougham, Suffolk . Horatio Walpole, 1st Baron Walpole , was his younger brother. As a child, Walpole attended a private school at Massingham, Norfolk . Walpole entered Eton College in 1690 where he

3026-468: A minor insignificant faction, and the Whigs became a dominant and largely unopposed party. His influence on the development of the uncodified constitution of Great Britain was less momentous, even though he is regarded as Great Britain's first prime minister. He relied primarily on the favour of the King, rather than the support of the House of Commons. His power stemmed from his personal influence instead of

3204-590: A naval mutiny when a Catholic captain held Mass on his ship. The transfer of 2,500 Catholics from the Royal Irish Army to England in September led to clashes with Protestant troops, some of his most reliable units refused to obey orders, and many of their officers resigned. When James demanded the repatriation of all six regiments of the Scots Brigade in January 1688, William refused but used

3382-524: A polarising figure, had many opponents, the most important of whom were in the Country Party , such as Lord Bolingbroke (who had been his political enemy since the days of Queen Anne) and William Pulteney (a capable Whig statesman who felt snubbed when Walpole failed to include him in the Cabinet). Bolingbroke and Pulteney ran a periodical called The Craftsman in which they incessantly denounced

3560-511: A political movement persisted into the late 18th century. William's invasion was the last successful invasion of England . Despite his own Catholicism , James became king in February 1685 with widespread backing from the Protestant majorities in England and Scotland, as well as largely Catholic Ireland. His policies quickly eroded support, and by June 1688, dissatisfaction turned into active, yet largely unarmed, resistance. The prospect of

3738-503: A propaganda campaign in England, which presented him as a "true Stuart", but one without the faults of either James or Charles II. Much of the "spontaneous" support for William on his landing was organised by Bentinck and his agents. William's key strategic purpose was creating a defensive coalition that would block further French expansion in Europe, an objective not shared by the majority of his English supporters. In 1672, an alliance with

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3916-669: A skirmish between French and Dutch naval vessels in July 1686, William concluded English neutrality was not enough and he needed their active support in the event of war. His relationship with James was affected by the fact both men relied on advisors with relatively limited views; in William's case, mainly English and Scots Presbyterian exiles, the latter with close links to the Protestant minority in Ireland, who saw Tyrconnell's policies as

4094-525: A strong defensive position near Chatham Dockyard , believing the Dutch would seek to establish naval superiority before committing to a landing. While this had been the original plan, winter storms meant conditions deteriorated rapidly for those on the transports; William therefore decided to sail in convoy and avoid battle. The easterly winds that allowed the Dutch to cross prevented the Royal Navy leaving

4272-527: A struggle between the Whigs and the government, Walpole became the intermediary for reconciling the government to the Whig leaders. His abilities were recognised by Lord Godolphin (the Lord High Treasurer and leader of the Cabinet) and he was subsequently appointed to the position of Secretary at War in 1708; for a short period of time in 1710 he also simultaneously held the post of Treasurer of

4450-443: A system. Such was their cant. But he was far from governing by corruption. He governed by party attachments. The charge of systematic corruption is less applicable to him, perhaps, than to any minister who ever served the crown for so great a length of time. He gained over very few from the Opposition. Without being a genius of the first class, he was an intelligent, prudent, and safe minister. He loved peace; and he helped to communicate

4628-414: A thousand horses; press reports deliberately exaggerated the damage and claimed the expedition might be postponed until next spring. Dartmouth and his senior commanders considered taking advantage of this by blockading Hellevoetsluis, then decided against it, partly because the stormy weather made it dangerous but also because they could not rely on their men. William replaced his losses and departed when

4806-675: A threat to their existence. Having largely alienated his Tory support base, James depended on a small circle of Catholic converts like Sunderland , Melfort and Perth . Suspicions increased when James sought William's backing for repealing the Test Acts ; he predictably refused, further damaging their relationship. Having previously assumed he was guaranteed English support in a war with France, William now worried he might face an Anglo-French alliance, despite assurances by James he had no intention of doing so. Historians argue whether these assurances were genuine, but James did not fully appreciate

4984-494: A tiny minority confined to parts of the aristocracy and the remote Highlands. Episcopalians had regained control of the kirk in 1660, leading to a series of Presbyterian uprisings, but memories of the bitter religious conflicts of the Civil War period meant the majority preferred stability. In England and Scotland, most of those who backed James in 1685 wanted to retain existing political and religious arrangements, but this

5162-608: A vocal leader in the Prince of Wales who was estranged from his father, the King. Several young politicians including William Pitt the Elder and George Grenville formed a faction known as the " Patriot Boys " and joined the Prince of Wales in opposition. Walpole's failure to maintain a policy of avoiding military conflict eventually led to his fall from power. Under the Treaty of Seville (1729) , Great Britain agreed not to trade with

5340-729: Is a process that allows citizens to participate directly in the allocation of a portion of the government budget. This practice is becoming more common at the local government level around the world. Budgets in Crisis Situations Emergency Budgets: Governments may enact special emergency budgets in response to crises such as natural disasters, economic recessions, or pandemics. These budgets are often developed rapidly and may involve significant shifts in spending priorities. Contingency Funds: Some governments establish contingency funds within their budgets to be utilized in unforeseen circumstances, detailing

5518-412: Is a system of popular approval and oversight of the state's financial activities. The history of constitutional politics can be described as the history of the establishment of the modern budgetary system. The budget is, in economic and technical terms, a schedule for comparing government revenues and expenditures, a mechanism for allocating resources in modern economic society. The budget determined through

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5696-470: Is an evolving practice. It involves setting specific targets and metrics for government programs and allocating funds based on the achievement of these targets. Long-Term Planning and Sustainability Fiscal Sustainability Reports: Some countries have begun producing long-term fiscal sustainability reports that assess the long-term balance of revenue and expenditures and the implications for future generations. Intergenerational Budget Reports: These reports focus on

5874-415: Is possible". On 4/14 October, William responded to the allegations by James in a second declaration, denying any intention to become king or to conquer England, a claim which remains controversial. The swiftness of the embarkations surprised all foreign observers. Louis had in fact delayed his threats against the Dutch until early September because he assumed it then would be too late in the season to set

6052-438: Is the financial resource necessary for the functionality of the government. The contents of government revenue have undergone multiple changes. Today, it mostly consists of the following: Government expenditures refer to how money raised by the government is allocated in order to support a wide range of causes, meet the needs of its citizens and ensure economic growth through various programs. The expenditures can be divided by

6230-454: Is the forecast of the likely levels of revenues and expenses. Government budget can be of three types: Despite the straightforward definitions of the states into which the government budget can fall, there are some debates over the issues measurements – such as inflation correction, the inclusion of business cycles, etc. – and how much the public budget, or more specifically debt, should influence public and fiscal policy-making as well as being

6408-633: The Electorate of Cologne had enabled France to bypass Dutch forward defences and nearly over-run the Republic, so ensuring an anti-French ruler was vital to prevent a repetition. As an ecclesiastical principality of the Holy Roman Empire, Cologne's ruler was nominated by Pope Innocent XI , in conjunction with Emperor Leopold I . Both Louis and James were in dispute with Innocent over the right to appoint Catholic bishops and clergy; when

6586-536: The Glorious Revolution (1688). He established stable political supremacy for the Whig party and taught succeeding ministers how best to establish an effective working relationship between Crown and Parliament". Some scholars rank him highly among British prime ministers. Walpole was born in Houghton, Norfolk , in 1676. One of 19 children, he was the third son and fifth child of Robert Walpole ,

6764-514: The Licensing Act of 1737 under which London theatres were regulated. The Act revealed a disdain for Swift, Pope, Fielding, and other literary figures who had attacked his government in their works. While the " country party " attacked Walpole relentlessly, he subsidised writers and lesser-known journalists such as William Arnall and Bishop Benjamin Hoadly as well as two men he named to

6942-591: The Peerage Bill , which would have limited the power of the monarch to create new peerages . Walpole brought about a temporary abandonment of the bill in 1719 and the outright rejection of the bill by the House of Commons. This defeat led Stanhope and Sunderland to reconcile with their opponents; Walpole returned as Paymaster of the Forces and Townshend was appointed Lord President of the Council . By accepting

7120-596: The Spanish Netherlands threatened both English and Dutch trade. Although William sent James troops to help suppress the 1685 Monmouth Rebellion , their relationship deteriorated thereafter. The Franco-Dutch War , continued French expansion , and expulsion of the Huguenots meant William assumed another war was inevitable, and although the States General of the Netherlands preferred peace,

7298-501: The Thames estuary and intervening. The English fleet was outnumbered 2:1, undermanned, short of supplies, and in the wrong place. Key landing locations in the south-west and Yorkshire had been secured by sympathisers, while both army and navy were led by officers whose loyalty was questionable. Even early in 1686, foreign observers doubted the military would fight for James against a Protestant heir, and William claimed only to be securing

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7476-762: The Tower of London . Two events turned dissent into a crisis; the birth of James Francis Edward Stuart on 10 June created the prospect of a Catholic dynasty, while the acquittal of the Seven Bishops on 30 June destroyed James's political authority. In 1677, James's elder daughter and heir Mary married her Protestant cousin William III of Orange , stadtholder of the main provinces of the Dutch Republic . The two initially shared common objectives in wanting Mary to succeed her father, while French ambitions in

7654-480: The War of Jenkins' Ear (so called because Robert Jenkins , a Welsh mariner, claimed that a Spaniard inspecting his vessel had severed his ear). Walpole's influence continued to dramatically decline even after the war began. In the 1741 general election his supporters secured an increase in votes in constituencies that were decided by mass electorates but failed to win in many pocket boroughs (constituencies subject to

7832-642: The War of the Polish Succession in 1733, because it was a dispute between the Bourbons and the Habsburgs. He boasted, "There are 50,000 men slain in Europe this year, and not one Englishman." By avoiding wars, Walpole could lower taxes. He reduced the national debt with a sinking fund, and by negotiating lower interest rates. He reduced the land tax from four shillings in 1721, to 3s in 1728, 2s in 1731 and finally to only 1s in 1732. His long-term goal

8010-536: The frigate Den Briel on 16/26 October. With over 200 ships of various types carrying 40,000 men, the expeditionary force was the largest fleet assembled in European waters up to that date. After departing on 19/29 October, the fleet was scattered by a gale, forcing the Brill back to Hellevoetsluis on 21/31 October. William refused to go ashore, and the fleet reassembled, having lost only one ship but nearly

8188-507: The 'Three Questions', one being a commitment to repeal of the Test Act. In addition, local government and town corporations were purged to create an obedient electoral machine, further alienating the county gentry who had formed the majority of those who backed James in 1685. On 24 August 1688, writs were issued for a general election. The expansion of the military caused great concern, particularly in England and Scotland, where memories of

8366-466: The 1679 to 1681 Exclusion Crisis , dividing the English political class into those who wanted to 'exclude' James from the throne, mostly Whigs , and their opponents, mostly Tories . However, in 1685 many Whigs feared the consequences of bypassing the 'natural heir', while Tories were often strongly anti-Catholic, and their support assumed the continued primacy of the Church of England. Most importantly, it

8544-573: The 1720s and 1730s in building up a collection of Old Masters from all over Europe. Walpole also concerned himself with estate matters. His health, never good, deteriorated rapidly toward the end of 1744. Walpole died in London on 18 March 1745 from a bladder stone, aged 68 years, and was buried at the Church of St Martin at Tours on the Haughton estate. His earldom passed to his eldest son Robert who

8722-564: The 30,000 strong Dutch States Army . With France on the verge of war, their absence was of great concern to the States General and Bentinck hired 13,616 German mercenaries to man Dutch border fortresses, freeing elite units like the Scots Brigade for use in England. The increase could be presented as a limited precaution against French aggression, as the Dutch would typically double or triple their army strength in wartime; William instructed his experienced deputy Schomberg to prepare for

8900-729: The Amsterdam City Council agreed to back William. This was a significant decision since the Council dominated the States of Holland , the most powerful political body in the Dutch Republic which contributed nearly 60% of its budget. French troops entered the Rhineland on 27 September and in a secret session held on 29th, William argued for a pre-emptive strike , as Louis and James would "attempt to bring this state to its ultimate ruin and subjugation, as soon as they find

9078-683: The Caribbean, and South America. The speculative market for slaves, rum, and mahogany spawned a frenzy that had ramifications throughout Europe when it collapsed. However, Walpole had bought at the bottom and sold at the top, adding greatly to his inherited wealth and allowing him to create Houghton Hall as seen today. Walpole's political career began in January 1701 when he won a seat in the English general election at Castle Rising in Norfolk. He left Castle Rising in 1702 so that he could represent

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9256-506: The Civil War left huge resistance to standing armies . In Ireland, Talbot replaced Protestant officers with Catholics; James did the same in England, while basing the troops at Hounslow appeared a deliberate attempt to overawe Parliament. In April 1688, he ordered his Declaration of Indulgence read in every church; when the Archbishop of Canterbury and six other bishops refused, they were charged with seditious libel and confined in

9434-470: The Classification of Functions of Government ( COFOG ): Government budgets have economic, political and technical basis. Unlike a pure economic budget, they are not entirely designed to allocate scarce resources for the best economic use. Government budgets also have a political basis wherein different interests push and pull in an attempt to obtain benefits and avoid burdens. The technical element

9612-495: The Dutch there was no secret Anglo-French alliance against them, although his denials only increased their suspicions. By confirming France's primary objective was the Rhineland, the second allowed William to move troops from the eastern border to the coast, even though most of the new mercenaries had yet to arrive. On 22 September, the French seized over 100 Dutch ships, many owned by Amsterdam merchants; in response, on 26 September

9790-420: The Dutch, and negating French attempts to build German alliances. William's envoy Johann von Görtz assured Leopold English Catholics would not be persecuted and intervention was to elect a free Parliament, not depose James, a convenient fiction that allowed him to remain neutral. Although his English supporters considered a token force sufficient, William assembled 260 transport ships and 15,000 men, nearly half

9968-586: The Exchequer after the South Sea Bubble stock-market crisis drew attention to perceived protection of political allies by Walpole. Historian H. T. Dickinson sums up his historical role by saying that "Walpole was one of the greatest politicians in British history. He played a significant role in sustaining the Whig party, safeguarding the Hanoverian succession, and defending the principles of

10146-415: The Forces in a Cabinet nominally led by Charles Montagu, 1st Earl of Halifax , but actually dominated by Charles Townshend, 2nd Viscount Townshend (Walpole's brother-in-law), and James Stanhope (later 1st Earl Stanhope) . Walpole was also appointed chairman of a secret committee formed to investigate the actions of the previous Tory ministry in 1715. Robert Harley, 1st Earl of Oxford and Earl Mortimer ,

10324-654: The House of Commons was prepared to determine the validity of a by-election in Chippenham , Walpole and others agreed to treat the issue as a motion of no confidence . As Walpole was defeated on the vote, he agreed to resign from the Government. The news of the naval disaster against Spain in the Battle of Cartagena de Indias also prompted the end of his political career. King George II wept on his resignation and begged to see him frequently. As part of his resignation

10502-600: The King agreed to elevate him to the House of Lords as the Earl of Orford , Viscount Walpole and Baron Walpole of Houghton in the County of Norfolk, this occurred on 6 February 1742. Five days later he formally relinquished the seals of office. Although no longer First Lord of the Treasury, Walpole remained politically involved as an advisor. His former colleagues were still pleased to see him, perhaps in part because he retained

10680-434: The Navy . Despite his personal clout, however, Walpole could not stop Lord Godolphin and the Whigs from pressing for the prosecution of Henry Sacheverell , a minister who preached anti-Whig sermons. The trial was extremely unpopular with much of the country, causing the Sacheverell riots , and was followed by the downfall of the Duke of Marlborough and the Whig Party in the general election of 1710. The new ministry, under

10858-405: The Northern Department and controlled the nation's foreign affairs. The two also had to contend with the Secretary of State for the Southern Department, Lord Carteret . Townshend and Walpole were thus restored to power and "annihilated the opposing faction". Under the guidance of Walpole, Parliament attempted to deal with the financial crisis brought on by the South Sea Bubble . The estates of

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11036-478: The Prime Minister's policies. Walpole was also satirised and parodied extensively; he was often compared to the criminal Jonathan Wild as, for example, John Gay did in his farcical Beggar's Opera . Walpole's other enemies included Jonathan Swift , Alexander Pope , Henry Fielding , and Samuel Johnson . Walpole secured the support of the people and of the House of Commons with a policy of avoiding war. He used his influence to prevent George II from entering

11214-430: The Prince of Wales (later George II ), included William Pulteney, 1st Earl of Bath , Secretary at War; General Lumley; General Erle; and Sir Philip Meadowes , Controller of the Army and Knight Marshal of the King's Palace, whose daughter, Mary Meadows, was maid-of-honour to Walpole's friend, Queen Caroline . A keen huntsman, Walpole built for himself Great Lodge (Old Lodge) in Richmond Park . Philip Medows,

11392-399: The Spanish colonies in North America. Spain claimed the right to board and search British vessels to ensure compliance with this provision. Disputes, however, broke out over trade with the West Indies . Walpole attempted to prevent war but was opposed by the King, the House of Commons, and by a faction in his own Cabinet. In 1739 Walpole abandoned all efforts to stop the conflict and commenced

11570-463: The States General authorised an additional 9,000 sailors and 21 new warships. The success of William's invasion would partly depend on domestic support, and at the end of April William met with Edward Russell , unofficial envoy for the Whig opposition. In a conversation recorded by Gilbert Burnet , he requested a formal invitation asking him to "rescue the nation and the religion", with a projected date of end September. William subsequently claimed he

11748-413: The States General treated the operation as a private affair, allowing William use of the Dutch States Navy and army. The nominal commander was Arthur Herbert , but operational control remained with Lieutenant-Admiral Cornelis Evertsen the Youngest and Vice-Admiral Philips van Almonde . Accompanied by Willem Bastiaensz Schepers , the Rotterdam shipping magnate who provided financing, William boarded

11926-461: The Test Acts, unlike James who offered tolerance in return for repeal. In April 1688, Louis XIV announced tariffs on Dutch herring imports, along with plans to support the Royal Navy in the English Channel . James immediately denied making any such request, but fearing it was the prelude to a formal alliance, the Dutch began preparing a military intervention. On the pretext of needing additional resources to deal with French privateers , in July

12104-401: The Tower he was regarded as a political martyr, and visited by all the Whig leaders. After he was released, Walpole wrote and published anonymous pamphlets attacking the Harley ministry and assisted Sir Richard Steele in crafting political pamphlets. Walpole was re-elected for King's Lynn in 1713. Queen Anne died in 1714. Under the Act of Settlement 1701 , which excluded Roman Catholics from

12282-417: The Treasury , Chancellor of the Exchequer , and Leader of the House of Commons , and is generally regarded as the de facto first prime minister of Great Britain. Although the exact dates of Walpole's dominance, dubbed the "Robinocracy", are a matter of scholarly debate, the period 1721–1742 is often used. He dominated the Walpole–Townshend ministry , as well as the subsequent Walpole ministry , and holds

12460-418: The West, the emergence of the capitalist mode of production and the gradual economic power of the bourgeoisie led to increasing demands for political rights. The bourgeoisie demanded the complete separation of the state from the home and the control of government revenues and expenditures through parliament. To this end, the bourgeois theorists put forward the famous "principle of participation," which states that

12638-408: The banker Francisco Lopes Suasso . The biggest concern for Holland was the potential impact on the Dutch economy and politics of William becoming ruler of England; the claim he had no intention of "removing the King from the throne" was not believed. These fears were arguably justified; William's access to English resources permanently diminished Amsterdam's power within the Republic and its status as

12816-409: The budget and the government completes it. This approach originated in the 1990s as an attempt to control the increasing fiscal deficits. A simple examination of expenditures does not do justice to the complex relationships between the federal government and the states and localities. In some cases, the federal government pays for a program and gives broad discretion to the states as to how to carry out

12994-404: The chance of victory in war. The practice of presenting budgets and fiscal policy to parliament was initiated by Sir Robert Walpole in his position as Chancellor of the Exchequer in an attempt to restore the confidence of the public after the chaos unleashed by the collapse of the South Sea Bubble in 1720. Thirteen years later, Walpole announced his fiscal plans to bring in an excise tax on

13172-471: The city of Norwich – on the cup part of it are Sir Robert's arms, and the arms of the city; it was first carried before Mayor Philip Meadows Esq. on the 29th of May". However, despite these great occasions, Walpole's broader popularity had begun to wane. In 1736 an increase in the tax on gin inspired riots in London. The even more serious Porteous riots broke out in Edinburgh after the King pardoned

13350-427: The commodity economy led to an expansion of the state's financial resources and a massive increase in both revenue and expenditure. The expansion of fiscal revenues and expenditures and the increase in government departments and personnel required the government to plan its funds, which gave rise to the concept of the government budget. The government budget is also a product of the democratization of modern politics. From

13528-459: The consumption of a variety of goods and services , such as wine and tobacco , and to lessen the taxation burden on the landed gentry. This provoked a wave of public outrage, including fierce denunciations from the Whig peer William Pulteney , who wrote a pamphlet entitled The budget opened, Or an answer to a pamphlet. Concerning the duties on wine and tobacco - the first time the word 'budget'

13706-419: The controversy over Wood's Halfpence and support Drapier's Letters behind the scenes and cause harm to Walpole's power. Walpole was able to recover from these events by removing the patent. However, Irish sentiment was situated against the English control. Townshend, working with the king, helped keep Great Britain at peace, especially by negotiating a treaty with France and Prussia in 1725. Walpole

13884-579: The defeat of the rebellion of 1745 . Later in the century, the Whig MP Edmund Burke "admitted him into the whig pantheon". Burke wrote: He was an honorable man and a sound Whig. He was not, as the Jacobites and discontented Whigs of his time have represented him, and as ill-informed people still represent him, a prodigal and corrupt minister. They charged him in their libels and seditious conversations as having first reduced corruption to

14062-481: The deputy ranger of the park and son of Walpole's political ally, Sir Philip Meadowes, lived at Great Lodge after Walpole had vacated it. In his new political positions, and encouraged by his advisers, Walpole introduced the sinking fund , a device to reduce the national debt. The Cabinet of which he was a member was often divided over most important issues. Normally, Walpole and Townshend were on one side, with Stanhope and Charles Spencer, 3rd Earl of Sunderland on

14240-580: The directors of the South Sea Company were used to relieve the suffering of the victims, and the stock of the company was divided between the Bank of England and East India Company . The crisis had gravely damaged the credibility of the King and of the Whig Party, but Walpole defended both with skilful oratory in the House of Commons. Walpole's first year as prime minister was also marked by

14418-507: The discovery of a plot formed by Francis Atterbury , the bishop of Rochester . The exposure of the scheme crushed the hopes of the Jacobites whose previous attempts at rebellion (most notably the risings of 1715 and 1719) had also failed. The Tory Party was equally unfortunate even though Lord Bolingbroke, a Tory leader who fled to France to avoid punishment for his Jacobite sympathies, was permitted to return to Britain in 1723. During

14596-615: The dismissal of Townshend from the Lord-Lieutenancy in April 1717. On the next day, Walpole resigned from the Cabinet to join the Opposition "because I could not connive at some things that were carrying on", and by joining the opposition he did not intend "to make the king uneasy or to embarrass his affairs." This began the Whig Split , dividing the dominant party for three years. In the new Cabinet, Sunderland and Stanhope (who

14774-471: The distrust caused by his domestic policies. In August 1687, William's cousin de Zuylestein travelled to England with condolences on the death of Mary of Modena 's mother, allowing him to make contact with the political opposition. Throughout 1688, his English supporters provided William detailed information on public opinion and developments, very little of which was intercepted. In October 1687, after fourteen years of marriage and multiple miscarriages, it

14952-417: The duties of the legislature, and after a long struggle with the monarchy, it finally gave the legislature control over taxation. After obtaining the taxation, the power to amend tax laws, and approve tax proposals, the legislature turned its attention to controlling expenditure. As a result, the legislature required an annual budget report, including a statement of expenditure and a statement of revenue. England

15130-534: The election of the Presbyterian John Shorter as Lord Mayor of London in 1687, he insisted on complying with the Test Act, reportedly because of a 'distrust of the King's favour...thus encouraging that which His Majesties whole Endeavours were intended to disannull.' To ensure a compliant Parliament, James required potential MPs to be approved by their local Lord Lieutenant ; eligibility for both offices required positive answers in writing to

15308-532: The establishment of the "manifestly illegal" commission for ecclesiastical causes and its use to suspend the Bishop of London and to remove the Fellows of Magdalen College, Oxford . William also condemned James's attempt to repeal the Test Acts and the penal laws through pressuring individuals and waging an assault on parliamentary boroughs, as well as his purging of the judiciary. James's attempt to pack Parliament

15486-419: The expedition in motion anyway, if their reaction proved negative; typically, such an enterprise would take at least some months. Being ready after the last week of September / first week of October would normally have meant that the Dutch could have profited from the last spell of good weather, as the autumn storms tend to begin in the third week of that month. However, this year they came early. For three weeks,

15664-539: The expedition was that day openly approved by the States of Holland; the same day James issued a proclamation to the English nation that it should prepare for a Dutch invasion to ward off conquest. On 30 September/10 October ( Julian /Gregorian calendars) William issued the Declaration of The Hague (actually written by Fagel), of which 60,000 copies of the English translation by Gilbert Burnet were distributed after

15842-618: The fall of Walpole, who carried the popular nickname "Cock Robin". (Contemporaries satirised the Walpole regime as the "Robinocracy" or as the "Robinarchy".) Glorious Revolution The Glorious Revolution was the deposition of James II and VII in November 1688. He was replaced by his daughter Mary II , and her Dutch husband, William III of Orange , who was also James's nephew. The two ruled as joint monarchs of England , Scotland , and Ireland until Mary's death in 1694, when William became ruler in his own right. Jacobitism as

16020-511: The family, he abandoned the idea. In November 1700 his father died, and Robert succeeded to inherit the Walpole estate . A paper in his father's handwriting, dated 9 June 1700, shows the family estate in Norfolk and Suffolk to have been nine manors in Norfolk and one in Suffolk. As a young man, Walpole had bought shares in the South Sea Company , which monopolised trade with Spain,

16198-523: The formation of the Association of Protestant Officers, which included senior veterans like Charles Trelawny , John Churchill , and Percy Kirke . On 14 August, Churchill offered his support to William, helping convince him it was safe to risk an invasion; although James was aware of the conspiracy, he took no action. One reason may have been fears over the impact on the army; with a notional strength of 34,000, it looked impressive on paper but morale

16376-617: The function of Parliament was simply to obey. Disputes over the relationship between king and Parliament led to the War of the Three Kingdoms and continued after the 1660 Stuart Restoration . Charles II came to rely on the Royal Prerogative since measures passed in this way could be withdrawn when he decided, rather than Parliament. However, it could not be used for major legislation or taxation. Concern that Charles II intended to create an absolute monarchy led to

16554-439: The governance structure around these funds can be unique to each country. Innovative Budget Practices Zero-Based Budgeting (ZBB): Though not entirely new, the application of ZBB in the public sector is not extensively documented. ZBB involves building the budget from the ground up each fiscal year, starting from a "zero base," and justifying every expense. Performance-Based Budgeting: Linking budget allocations to performance outcomes

16732-978: The government budget, as a rule of the allocation of resources by public power, is a system of control and organisation of the operation of public finances, and is the basis of representative politics, the core of whose values is democratic finance. Budgets are of the following types: The two basic elements of any budget are the revenues and expenses . In the case of the government, revenues are derived primarily from tax . Government expenses include spending on current goods and services, which economists call government consumption ; government investment expenditures such as infrastructure investment or research expenditure; and transfer payments like unemployment or retirement benefits. Budgetary Transparency and Citizen Participation Citizen Budgets: Some governments have started creating simplified versions of their budgets, known as "citizen budgets," to increase transparency and encourage citizen engagement. Participatory Budgeting: This

16910-404: The government intentionally designs budgetary policies to reduce income and wealth inequality. Gender-responsive Budgeting: The practice of preparing budgets with an explicit consideration of the impacts on gender equality, ensuring that gender commitments are reflected in budgetary allocations. Government revenue is the income of the government earned by redistribution of the social products. It

17088-458: The home has nevertheless become established as the official residence of the prime minister (in his or her capacity as First Lord of the Treasury). Walpole has attracted attention from heterodox economists as a pioneer of protectionist policies, in the form of tariffs and subsidies to woollen manufacturers. As a result, the industry became Britain's primary export, enabling the country to import

17266-426: The home of the Prince of Wales, to form political plans. Walpole also became an adviser and close friend of the Prince of Wales's wife, Caroline . In 1720 he improved his position by bringing about a reconciliation between the Prince of Wales and the King. Walpole continued to be an influential figure in the House of Commons. He was especially active in opposing one of the Government's more significant proposals,

17444-811: The impact of current budget policies on future generations, taking into account demographic changes and long-term liabilities such as pension commitments and climate change-related expenses. International Budget Partnerships Cross-Country Collaborations: There are instances of countries collaborating on joint budgetary initiatives, particularly within the European Union or other international bodies, that aim to synchronize fiscal policies or address transnational challenges. International Budget Standards: Efforts to standardize certain aspects of budget reporting across countries to improve comparability and foster international best practices. Unconventional Revenue Streams Sovereign Wealth Funds: Discussion on how governments budget

17622-460: The increasing influence of the Commons". Walpole was a Whig from the gentry class who was first elected to Parliament in 1701 and held many senior positions. He was a country squire and looked to country gentlemen for his political base. Historian F. O'Gorman says his leadership in Parliament reflected his "reasonable and persuasive oratory, his ability to move both the emotions as well as

17800-581: The influence of his office. Most of his immediate successors were, comparatively speaking, extremely weak. It would take several decades more for the premiership to develop into the most powerful and most important office in the country. Walpole's strategy of keeping Great Britain at peace contributed greatly to the country's prosperity. Walpole also managed to secure the position of the Hanoverian dynasty , and effectively countervailed Jacobitism. The Jacobite threat ended, soon after Walpole's term ended, with

17978-488: The influence of the Duke of Argyll secured the election of members opposed to Walpole in some parts of Scotland. Walpole's new majority was difficult to determine because of the uncertain loyalties of many new members, but contemporaries and historians estimated it as low as fourteen to eighteen. In the new Parliament, many Whigs thought the ageing Prime Minister incapable of leading the military campaign. Moreover, his majority

18156-535: The informal but strong influence of patrons). In general, the government made gains in England and Wales but this was not enough to overturn the reverses of the 1734 election and further losses in Cornwall where many constituencies were obedient to the will of the Prince of Wales (who was also Duke of Cornwall ). These constituencies returned members of parliament hostile to the Prime Minister. Similarly,

18334-678: The inheritance of his wife Mary. While still a dangerous undertaking, the invasion was less risky than it seemed. The Dutch preparations, though carried out with great speed, could not remain secret. The English envoy Ignatius White , the Marquess d'Albeville, warned his country: "an absolute conquest is intended under the specious and ordinary pretences of religion, liberty, property and a free Parliament". Louis threatened an immediate declaration of war if William proceeded and sent James 300,000 livres. Embarkations, begun on 22 September ( Gregorian calendar ), had been completed on 8 October, and

18512-488: The invasion fleet was prevented by adverse south-westerly gales from departing from the naval port of Hellevoetsluis and Catholics all over the Netherlands and the British kingdoms held prayer sessions that this "popish wind" might endure. However, on 14/24  October, it became the famous " Protestant Wind " by turning to the east. Although most of the warships were provided by the Admiralty of Amsterdam , officially

18690-532: The items of budgetary expenditure be approved by Parliament, and that revenues and expenditures be allocated on an annual basis and that a plan of revenues and expenditures be made in advance and submitted to Parliament for approval and monitoring. In other capitalist countries, government budgets were created later, such as in France in 1817 and the United States in 1921 . In short, the government budget system

18868-545: The killing of 2,000 Vaudois Protestants in 1686, it led to fears Protestant Europe was threatened by a Catholic counter-reformation. These concerns were reinforced by events in Ireland; the Lord Deputy , the Earl of Tyrconnell , wanted to create a Catholic establishment able to survive James's death, which meant replacing Protestant officials at a pace that was inherently destabilising. The majority of those who backed James in 1685 did so because they wanted stability and

19046-437: The king's favour. After his resignation, his main political roles were to support the government by means of advice, to dole out some patronage and to speak on the ministry's behalf in the Lords. Lord Orford was succeeded as prime minister by Lord Wilmington in an administration whose true head was Lord Carteret . A committee was created to inquire into Walpole's ministry but no substantial evidence of wrongdoing or corruption

19224-609: The land war with France, with the Royal Navy taking the lead at sea. This was a significant factor in the Dutch Republic being overtaken as the leading European maritime power by Britain during the War of the Spanish Succession . Despite his Catholicism , James became king in 1685 with widespread backing in all three of his kingdoms. In June 1685, he quickly crushed Protestant risings in Scotland and England , but

19402-406: The landing in England, in which he assured that his only aim was to maintain the Protestant religion, install a free parliament and investigate the legitimacy of the Prince of Wales. He would respect the position of James. William went on to condemn James's advisers for overturning the religion, laws, and liberties of England, Scotland, and Ireland by the use of the suspending and dispensing power;

19580-686: The leadership of the Tory Robert Harley , removed Walpole from his office of Secretary at War but he remained Treasurer of the Navy until 2 January 1711. Harley had first attempted to entice him and then threatened him to join the Tories , but Walpole rejected the offers, instead becoming one of the most outspoken members of the Whig Opposition. He effectively defended Lord Godolphin against Tory attacks in parliamentary debate, as well as in

19758-467: The likelihood seemed to diminish. With the Dutch on the verge of war with France, he did not believe the States General would allow William to make the attempt; if they did, his army and navy were strong enough to defeat it. Reasonable in theory, his reliance on the loyalty and efficiency of the military proved deeply flawed. Both the army and the navy remained overwhelmingly Protestant and anti-Catholic; in July, only personal intervention by James prevented

19936-566: The line of succession, Anne was succeeded by her second cousin , the Elector of Hanover , George I . George I distrusted the Tories, who he believed opposed his right to succeed to the Throne. The year of George's accession, 1714, marked the ascendancy of the Whigs who would remain in power for the next fifty years. Robert Walpole became a Privy Councillor and rose to the position of Paymaster of

20114-484: The majority accepted he was correct. This view was widely shared throughout Protestant Europe; in October 1685, Frederick William, Elector of Brandenburg renounced his French alliance for one with the Dutch. In July 1686, other Protestant states formed the anti-French League of Augsburg , with Dutch support; securing or neutralising English resources, especially the Royal Navy , now became key to both sides. Following

20292-493: The mandate. In other cases, the federal government essentially dictates all the terms, and the states simply administer the program. Government budget is a subject of importance for a variety of reasons: Robert Walpole Robert Walpole, 1st Earl of Orford (26 August 1676 – 18 March 1745), known between 1725 and 1742 as Sir Robert Walpole , was a British Whig politician who served as Prime Minister of Great Britain from 1721 to 1742. He also served as First Lord of

20470-659: The military or holding public office, and land reform. In 1600, 90% of Irish land was owned by Catholics but following a series of confiscations during the 17th century, this had dropped to 22% in 1685. Catholic and Protestant merchants in Dublin and elsewhere objected to commercial restrictions placing them at a disadvantage to their English competitors. While James's supporters viewed hereditary succession as more important than his personal Catholicism, they opposed his policies of 'Tolerance' under which Catholics would be allowed to hold public office and engage in public life. Opposition

20648-404: The minds of men, and, above all, his extraordinary self-confidence". Hoppit says Walpole's policies sought moderation, he worked for peace, lower taxes and growing exports and allowed a little more tolerance for Protestant Dissenters. He mostly avoided controversy and high-intensity disputes as his middle way attracted moderates from both the Whig and Tory camps, but his appointment to Chancellor of

20826-420: The modern government budget, arose during the period of capitalist society and was gradually established during the struggle between the bourgeoisie and the feudal ruling class. As the productive forces of capitalism developed, the economic power of the bourgeoisie gradually grew, and the political demands for democracy became more and more vocal. In the early stages of its development, the budget aimed to establish

21004-517: The most important figure in the administration. On 3 April 1721 he was appointed First Lord of the Treasury, Chancellor of the Exchequer and Leader of the House of Commons. Walpole's de facto tenure as "prime minister" is often dated to his appointment as First Lord of the Treasury in 1721, though he himself rejected that title (it was originally a term of abuse), stating in 1741: "I unequivocally deny that I am sole and prime minister." His brother-in-law Lord Townshend served as Secretary of State for

21182-478: The neighbouring borough of King's Lynn , a pocket borough that would re-elect him for the remainder of his political career. Voters and politicians nicknamed him "Robin". Like his father, Robert Walpole was a member of the Whig Party . In 1705, Walpole was appointed by Queen Anne to be a member of the council for her husband, Prince George of Denmark , Lord High Admiral . After having been singled out in

21360-609: The next day, most likely because his father's throne, and the future of the whole Hanoverian dynasty, was at risk from the Stuart Pretender. Along with his political interests in his last years, Walpole enjoyed the pleasures of the hunt. Back at his recently rebuilt country seat in Houghton, Norfolk, such pastimes were denied him due to "dismal weather". He also enjoyed the beauties of the countryside. His art collection gave him particular pleasure. He had spent much money in

21538-437: The nickname "Sir Bluestring". His eldest son was granted a barony. Walpole's position was threatened in 1727 when George I died and was succeeded by George II . For a few days it seemed that Walpole would be dismissed but, on the advice of Queen Caroline , the King agreed to keep him in office. Although the King disliked Townshend, he retained him as well. Over the next years Walpole continued to share power with Townshend but

21716-498: The occasion". This was accepted by the States, with the objective left deliberately vague, other than making the English "King and Nation live in a good relation, and useful to their friends and allies, and especially to this State". Following their approval, the Amsterdam financial market raised a loan of four million guilders in only three days, with further financing coming from various sources, including two million guilders from

21894-674: The old Elector died in June 1688, Innocent and Leopold ignored the French candidate in favour of Joseph Clemens of Bavaria . After 1678, France continued its expansion into the Rhineland , including the 1683 to 1684 War of the Reunions , additional territorial demands in the Palatinate , and construction of forts at Landau and Traben-Trarbach . This presented an existential threat to Habsburg dominance, guaranteeing Leopold's support for

22072-471: The opportunity to purge those considered unreliable, a total of 104 officers and 44 soldiers. Some may have been Williamite agents, such as Colonel Belasyse , a Protestant with over 15 years of service who returned to his family estates in Yorkshire and made contact with Danby. The promotion of Catholic former Brigade officers like Thomas Buchan and Alexander Cannon to command positions led to

22250-510: The other vessels to prevent conspiracy. A lack of funds meant that excluding fireships and light scouting vessels, only 16 warships were available in early October, all third rates or fourth rates that were short of both men and supplies. While the Downs was the best place to intercept a cross-Channel attack, it was also vulnerable to a surprise assault, even for ships fully manned and adequately provisioned. Instead, James placed his ships in

22428-492: The other. Foreign policy was the primary issue of contention; George I was thought to be conducting foreign affairs with the interests of his German territories, rather than those of Great Britain, at heart. The Stanhope–Sunderland faction, however, had the King's support. In 1716 Townshend had been removed from the important post of Northern Secretary and put in the lesser office of Lord Lieutenant of Ireland . Even this change did not appease Stanhope and Sunderland, who secured

22606-451: The people have the right not to recognize taxes and expenditures that have not been discussed yet and adopted by the representatives of the people and to refuse to pay them. Based on this principle, the bourgeoisie united with the workers in a long struggle against the feudal aristocracy, which was finally compromised. In 1689, a constitutional monarchy was established in England , with a bourgeoisie-dominated House of Commons , which confirmed

22784-449: The political process, determines, first of all, the proportion and structure of the allocation of the resources of society as a whole between the various sectors, and therefore the scale and direction of the financial allocation of resources. In essence, the budget is a mechanism by which the taxpayers and their representative bodies control the financial activities of the government, a distribution of public power between different subjects as

22962-465: The population and Nonconformists 4.4%. Both groups were divided; since private worship was generally tolerated, Catholic moderates feared greater visibility would provoke a backlash. Among Nonconformists, while Quakers and Congregationalists supported repeal of the Test Acts, the majority wanted to amend the 1662 Act of Uniformity and be allowed back into the Church of England. When James ensured

23140-495: The ports of Plymouth and Torbay. In the north, a force organised by Belasyse and Danby prepared to seize York , its most important city, and Hull , its largest port. Herbert had been replaced by Dartmouth as commander of the fleet when he defected in June but many captains owed him their appointments and were of doubtful loyalty. Dartmouth suspected Berkeley and Grafton of plotting to overthrow him; to monitor them, he placed their ships next to his and minimised contact between

23318-534: The position of Paymaster, however, Walpole lost the favour of the Prince of Wales (the future King George II), who still harboured disdain for his father's Government. Soon after Walpole returned to the Cabinet, Britain was swept by a wave of over-enthusiastic speculation which led to the South Sea Bubble . The Government had established a plan whereby the South Sea Company would assume the national debt of Great Britain in exchange for lucrative bonds. It

23496-456: The press. In 1712, Walpole was accused of venality and corruption in the matter of two forage contracts for Scotland. Although it was proven that he had retained none of the money, Walpole was pronounced "guilty of a high breach of trust and notorious corruption". He was impeached by the House of Commons and found guilty by the House of Lords ; he was then imprisoned in the Tower of London for six months and expelled from Parliament. While in

23674-494: The primacy of the Protestant Church of England and Church of Scotland . When his policies appeared to undermine the existing political and religious order, the result was to alienate his English and Scottish supporters and destabilise Ireland. Stuart political ideology derived from James VI and I , who in 1603 had created a vision of a centralised state, run by a monarch whose authority came from God , and where

23852-460: The prospect of a Catholic successor, the " Invitation to William " was quickly drafted by Henry Sydney , later described by Whig historians as "the great wheel on which the Revolution rolled". The signatories provided no considerable political power, but they were selected to make it seem like they represented a broad spectrum, and provided William with an essential propaganda tool. Danby ,

24030-461: The raw materials and food that fueled the industrial revolution. Walpole is immortalised in St Stephen's Hall , where he and other notable Parliamentarians look on at visitors to Parliament. Walpole built Houghton Hall in Norfolk as his country seat. He also left behind a collection of art which he had assembled during his career. His grandson, the 3rd Earl of Orford , sold many of

24208-403: The record as the longest-serving British prime minister . W. A. Speck wrote that Walpole's uninterrupted run of 20 years as prime minister "is rightly regarded as one of the major feats of British political history. Explanations are usually offered in terms of his expert handling of the political system after 1720, [and] his unique blending of the surviving powers of the crown with

24386-455: The remainder of George I's reign, Walpole's ascendancy continued; the political power of the monarch was gradually diminishing and that of his ministers gradually increasing. In 1724 the primary political rival of Walpole and Townshend in the Cabinet, Lord Carteret, was dismissed from the post of Southern Secretary and once again appointed to the lesser office of Lord Lieutenant of Ireland. In Ireland, Lord Carteret used his power to secretly aid in

24564-400: The remainder were impeached for their corruption. Aislabie was found guilty and imprisoned, but the personal influence of Walpole saved both Stanhope and Sunderland. For his role in preventing these individuals and others from being punished, Walpole gained the nickname of "The Screen", or "Screenmaster-General". The resignation of Sunderland and the death of Stanhope in 1721 left Walpole as

24742-405: The revenue and expenditures of sovereign wealth funds, which are state-owned investment vehicles, could offer a fresh perspective. Cryptocurrency and Blockchain : The potential and actual use of cryptocurrencies and blockchain technology in government budgeting and finance is a developing field. Budgets and Inequality Redistributive Budgeting : Exploring the concept of redistributive budgeting where

24920-443: The role of poet laureate , Laurence Eusden and Colley Cibber . They defended Walpole from the charge of evil political corruption by arguing that corruption is the universal human condition. Furthermore, they argued, political divisiveness was also universal and inevitable because of selfish passions that were integral to human nature. Arnall argued that government must be strong enough to control conflict, and in that regard, Walpole

25098-418: The rule of law, qualities frequently undermined by his actions. After suspending Parliament in November 1685, he sought to rule by decree; although the principle was not disputed, the widening of its scope caused considerable concern, particularly when judges who disagreed with its application were dismissed. He then alienated many by perceived attacks on the established church; Henry Compton, Bishop of London ,

25276-423: The same disposition to nations at least as warlike and restless as that in which he had the chief direction of affairs. ... With many virtues, public and private, he had his faults; but his faults were superficial. A careless, coarse, and over familiar style of discourse, without sufficient regard to persons or occasions, and an almost total want of political decorum, were the errours [ sic ] by which he

25454-436: The status of the principle of participation: firstly, no taxes could be levied without the consent of Parliament; secondly, the government established a budget, which could only be implemented with the approval of Parliament, etc. By gaining the right to tax and budget, the bourgeoisie finally entered the political arena. The institutional framework of public finance is the government budget or public budget. The budgetary system

25632-399: The threat to the Dutch. Instead, Louis attempted to intimidate the States General, and on 9 September, his envoy D'Avaux handed them two letters. The first warned an attack on James meant war with France, the second any interference with French operations in Germany would end with the destruction of the Dutch state. Both misfired; convinced Louis was trying to drag him into war, James told

25810-484: The two clashed over British foreign affairs, especially over policy regarding Austria . Gradually Walpole became the clearly dominant partner in government. His colleague retired on 15 May 1730 and this date is sometimes given as the beginning of Walpole's unofficial tenure as prime minister. Townshend's departure enabled Walpole to conclude the Treaty of Vienna , creating the Anglo-Austrian alliance . Walpole,

25988-452: The various passions of Mankind mingled, and in a manner incorporated themselves, with every thing that was said or writt concerning him. Never was Man more flattered nor more abused, and his long power, was probably the chief cause of both". Chesterfield claimed he was "much acquainted with him both in his publick and his private life": In private life he was good natured, chearfull, social. Inelegant in his manners, loose in his morals. He had

26166-455: The wind changed on 1/11 November, this time heading for Harwich where Bentinck had prepared a landing site. It has been suggested this was a feint to divert some of Dartmouth's ships north, which proved to be the case and when the wind shifted again, the Dutch armada sailed south into the Strait of Dover . In doing so, they twice passed the English fleet, which was unable to intercept because of

26344-729: The works in this collection to the Russian Empress Catherine ;II in 1779. This collection – then regarded as one of the finest in Europe – now lies in the State Hermitage Museum in Saint Petersburg , Russia. In 2013 the Hermitage loaned the collection to Houghton for display, following the original William Kent hanging plan, which had been recently discovered at Houghton. The nursery rhyme " Who Killed Cock Robin ?" may allude to

26522-451: The world's leading commercial and financial centre. Neither James nor Sunderland trusted Louis, correctly suspecting that his support would continue only so long as it coincided with French interests, while Mary of Modena claimed his warnings were simply an attempt to drag England into an unwanted alliance. As a former naval commander, James appreciated the difficulties of a successful invasion, even in good weather, and as autumn approached,

26700-428: The world, while their honest hearts were yet untainted, well are you to be an old Roman? a patriot? you will soon come off of that, and grow wiser . And thus he was more dangerous to the morals, than to the libertys of his country, to which I am persuaded that he meaned no ill in his heart. ... His name will not be recorded in history among the best men, or the best Ministers, but much much less ought it to be ranked among

26878-531: The worst. 10 Downing Street represents another part of Walpole's legacy. George II offered this home to Walpole as a personal gift in 1732, but Walpole accepted it only as the official residence of the First Lord of the Treasury, taking up his residence there on 22 September 1735. His immediate successors did not always reside in Number ;10 (preferring their larger private residences), but

27056-415: Was 'forced' to take control of the conspiracy when Russell warned him the English would rise against James even without his help, and he feared this would lead to a republic, depriving his wife of her inheritance. Although this version is strongly disputed, Zuylestein returned to England in June, ostensibly to congratulate James on his new son, in reality to co-ordinate with William's supporters. Spurred by

27234-409: Was a King's Scholar . He left Eton on 2 April 1696 and matriculated at King's College, Cambridge , on the same day. On 25 May 1698, he left Cambridge after the death of his only remaining older brother, Edward, so that he could help his father administer the family estate to which he had become the heir. Walpole had planned to become a clergyman but as he was now the eldest surviving son in

27412-575: Was advised it was better not to raise them. Widespread discontent and growing hostility to the Stuart regime were particularly apparent in North-East and South-West England, the two landing places identified by William. A Tory whose brother Jonathan was one of the Seven Bishops, Trelawny's commitment confirmed support from a powerful and well-connected West Country bloc, allowing access to

27590-521: Was announced the Queen was pregnant, Melfort immediately declaring it was a boy. When James then wrote to Mary urging her to convert to Catholicism, it convinced many he was seeking a Catholic heir, one way or the other and may have been a deciding factor in whether to invade. Early in 1688, a pamphlet circulated in England written by Dutch Grand Pensionary Gaspar Fagel ; this guaranteed William's support for freedom of worship for Dissenters and retaining

27768-430: Was brittle while many were untrained or lacked weapons. It also had to fill policing roles previously delegated to the militia, which had been deliberately allowed to decay; most of the 4,000 regular troops brought from Scotland in October had to be stationed in London to keep order. In October, attempts were made to restore the militia but many members were reportedly so angry at the changes made to local corporations, James

27946-552: Was created an Earl) were the effective heads. Walpole reversed his earlier support for the impeachment of Robert Harley , the former first minister, and joined with the Tory opposition in securing an acquittal in July ;1717. Soon after Walpole's resignation, a bitter family quarrel between the King and the Prince of Wales, split the royal family. Walpole and others who opposed the Government often congregated at Leicester House ,

28124-454: Was developed in the 1920s in order to prevent corruption. Incrementalism : This approach focuses on making small changes from year to year. The government forms a budget for the new fiscal year by taking the budget from the previous fiscal year as a base and makes only small changes to it. Top-down approach: The central financial authority (e.g. the Ministry of finance ) sets boundaries to

28302-464: Was discovered. Though no longer a member of the Cabinet, Orford continued to maintain personal influence with George II and was often dubbed the "Minister behind the Curtain" for this advice and influence. In 1744 he managed to secure the dismissal of Carteret and the appointment of Henry Pelham whom he regarded as a political protégé. He advised Pelham to make use of his seat in the Commons to serve as

28480-587: Was forced into exile less than four years later. Modern historians argue James failed to appreciate how much Royal power relied on support from the landed gentry , and the loss of that support fatally damaged his regime. The vast majority of the gentry in England and Scotland were Protestant , while even in largely Catholic Ireland a disproportionate number were members of the Protestant Church of Ireland . Although willing to accept James's personal religious beliefs, his backers did so only so long as he maintained

28658-488: Was historically established and developed as a way for the National Assembly to control and organize the financial activities of the government (the executive), with the aim of effective control of the executive by the legislature. The government budget is both a product of government administration and political democratization. The emergence of the capitalist mode of production and the high level of development of

28836-491: Was impeached, and Henry St John, 1st Viscount Bolingbroke , suffered from an act of attainder . Halifax, the titular head of the administration, died in 1715 and by 1716 Walpole was appointed to the posts of First Commissioner (Lord) of the Treasury and Chancellor of the Exchequer . He was a member of the Board of General Officers established in 1717 to investigate the abuse of pay. Walpole's fellow members, appointed by

29014-405: Was in danger of removing "the last and great remedy for all those evils". "Therefore", William continued, "we have thought fit to go over to England, and to carry over with us a force sufficient, by the blessing of God, to defend us from the violence of those evil Counsellors ... this our Expedition is intended for no other design, but to have, a free and lawful Parliament assembled as soon as

29192-403: Was in turn succeeded by his only son George. Upon the death of the third Earl, the earldom was inherited by the first Earl's younger son Horace Walpole , who is now remembered for his many thousands of insightful letters, published in 48 volumes by Yale University Press . The title died with him in 1797. Walpole exercised a tremendous influence on the politics of his day. The Tories became

29370-401: Was led by devout Anglicans who argued that the measures he proposed were incompatible with the oath he had sworn as king to uphold the supremacy of the Church of England. According to opponents, demanding that Parliament approve his measures James was not only to be breaking his own word but requiring others to do the same. Parliament refused to comply, despite being "the most Loyal Parliament

29548-516: Was made in June. Domestically, the Revolution confirmed the primacy of Parliament over the Crown in both England and Scotland. In terms of external policy, until his death in 1702, William combined the roles of Dutch stadtholder and British monarch. Both states thus became allies in resisting French expansion, an alliance which persisted for much of the 18th century, despite differing objectives. Under William's leadership, Dutch resources were focused on

29726-550: Was most hurt in the public opinion: and those through which his enemies obtained the greatest advantage over him. But justice must be done. The prudence, steadiness, and vigilance of that man, joined to the greatest possible lenity in his character and his politics, preserved the crown to this royal family; and with it, their laws and liberties to this country. Lord Chesterfield expressed scepticism as to whether "an impartial Character of Sr Robert Walpole, will or can be transmitted to Posterity, for he governed this Kingdom so long that

29904-461: Was not as strong as it had formerly been, his detractors – such as William Pulteney, earl of Bath, and Lord Perceval – being approximately as numerous as his supporters. Behind these political enemies were opposition Whigs, Tories and Jacobites. Walpole was alleged to have presided over an immense increase in corruption and to have enriched himself enormously whilst in office. Parliamentary committees were formed to investigate these charges. In 1742 when

30082-566: Was not consulted and stated that Townshend was "too precipitate" in his actions. Great Britain, free from Jacobite threats, from war, and from financial crises, grew prosperous, and Robert Walpole acquired the favour of George I. In 1725 he persuaded the king to revive the Knighthood of the Bath and was himself invested with the order, and in 1726 was made a Knight of the Garter , earning him

30260-459: Was not the case in Ireland. While he was guaranteed support from the Catholic majority, James was also popular among Irish Protestants, since the Church of Ireland depended on Royal support for its survival, while Ulster was dominated by Presbyterians who supported his tolerance policies. However, religion was only one factor; of equal concern for Catholics were laws barring them from serving in

30438-569: Was politically short-sighted, since it rewarded those who joined the 1685 rebellions and undermined his supporters. Demanding tolerance for Catholics was also badly timed. In October 1685 Louis XIV of France issued the Edict of Fontainebleau revoking the 1598 Edict of Nantes which had given French Protestants the right to practise their religion; over the next four years, an estimated 200,000 to 400,000 went into exile, 40,000 of whom settled in London. Combined with Louis's expansionist policies and

30616-401: Was quite successful. This style of "court" political rhetoric continued through the 18th century. The year 1737 saw the death of Walpole's close friend Queen Caroline . Though her death did not end his personal influence with George II, who had grown loyal to the Prime Minister during the preceding years, Walpole's domination of government continued to decline. His opponents acquired

30794-531: Was seen as a short-term issue; James was 52, his marriage to Mary of Modena remained childless after 11 years, and the heirs were his Protestant daughters, Mary and Anne . There was much greater sympathy in Scotland for a 'Stuart heir', and the 1681 Succession Act confirmed the duty of all to support him, 'regardless of religion.' Over 95 percent of Scots belonged to the national church or kirk; even other Protestant sects were banned, and by 1680, Catholics were

30972-520: Was suspended for refusing to ban John Sharp from preaching after he gave an anti-Catholic sermon. He often made things worse by political clumsiness; to general fury, the Ecclesiastical Commission of 1686 established to discipline the Church of England included suspected Catholics like the Earl of Huntingdon . This was combined with an inability to accept opposition; in April 1687, he ordered Magdalen College, Oxford , to elect

31150-433: Was the first country in the world to establish a modern government budget. After the triumph of the bourgeois revolution in 1640 , England, as a parliamentary monarchy, had all of its financial powers controlled by Parliament. The Bill of Rights of 1689 reaffirmed that the royal government could not force anyone to pay taxes without the approval of Parliament for adoption, and also required that how taxes were to be spent and

31328-407: Was to replace the land tax, which was paid by the local gentry, with excise and customs taxes, which were paid by merchants and ultimately by consumers. Walpole joked that the landed gentry resembled hogs, which squealed loudly whenever anyone laid hands on them. By contrast, he said, merchants were like sheep, and yielded their wool without complaint. The joke backfired in 1733 when he was defeated in

31506-480: Was used in connection with the government's fiscal policies. The proposed Excise Bill was eventually rescinded. The institution of the annual account of the budget evolved into practice during the first half of the 18th century and had become well established by the 1760s; George Grenville introduced the Stamp Act in his 1764 budget speech to the House of Commons of Great Britain . The true government budget,

31684-420: Was widely believed that the company would eventually reap an enormous profit through international trade in cloth, agricultural goods, and slaves . Many in the country, including Walpole himself (who sold at the top of the market and made 1,000 per cent profit), frenziedly invested in the company. By the latter part of 1720, however, the company had begun to collapse as the price of its shares plunged. In 1721

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