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This content is taken from the SOAS University of London's online course, Understanding Public Financial Management: How Is Your Money Spent?. Join the course to learn more.

Skip to 0 minutes and 13 seconds In Week 3, we had a look at how the public sector raises revenues. We’ve seen that there are several kinds of revenue sources, most notably taxation, but also from sources like user charges and fees, concessions, franchises and exploitation of natural resources. We’ve learned that there are many forms of taxation, which all have some impact on the choices we make as individuals as well as those of businesses. We’ve also examined how taxation can be used to serve public policy objectives, such as stopping smoking, cutting drinking and changing our eating habits or to attract businesses into certain regions. Next week, we start to look at how the public sector can be held accountable for the use of public money.

Skip to 1 minute and 2 seconds Public sector organisations are subject to various forms of auditing, a function intended to ensure that financial resources are managed prudently, efficiently and effectively. We will see how governments are increasingly exposed to pressures to be more accountable for the decisions that impact on how public money is used. We’ll see some examples of where governments have got it right, where they’ve got it badly wrong, and how they’ve tried to get back on track. How accountable is your government? How does auditing work, and why is it so important? Stay with us in the final week of the course to find out.

Coming up next week

Dr Alberto Asquer reviews Week 3 of the course and our introduction to raising public sector revenues.

He also looks ahead to the final week of the course, where we will be examining accountability - what it is, how it is checked and why it is important.

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This video is from the free online course:

Understanding Public Financial Management: How Is Your Money Spent?

SOAS University of London