Definition, Meaning & Synonyms
fiscal responsibility
Noun Phrase
ˈfɪs.kəl rɪˌspɒn.səˈbɪl.ɪ.ti
Definition
The principle of managing finances and resources in a way that ensures stability and sustainability, especially in government budgets and personal finance.
Examples
- The government has been criticized for its lack of fiscal responsibility in recent years.
- Practicing fiscal responsibility can lead to a more secure financial future.
- Ensuring fiscal responsibility is essential for maintaining public trust.
Meaning
Fiscal responsibility involves making informed and prudent choices about spending and saving to avoid excessive debt and promote economic health.
Synonyms
- Financial accountability
- Budgetary discipline
- Economic prudence
