Fiscal responsibility legislation

Fiscal responsibility legislation refers to laws or policies designed to ensure that governments manage their finances prudently. This typically includes rules for maintaining sustainable budget deficits, controlling public debt, and promoting transparency and accountability in financial decisions. The goal is to prevent excessive borrowing and spending that could jeopardize economic stability or burden future generations. In essence, it sets standards to help governments balance their budgets responsibly, ensuring long-term fiscal health and economic confidence.