Words / B1

FISKL/ˈfɪskl/

Fiscal means connected with government tax and spending: fiscal policy; the fiscal year; fiscal rules. Financial is wider (any money). Monetary refers more to interest rates and the Bank of England. Do not call a household budget fiscal. UK news: the Office for Budget Responsibility and fiscal rules.

Meaning

Connected with government tax and spending.

Examples

• “The fiscal rules limited how much the chancellor could borrow.”
• “The fiscal year in the UK runs with the tax year from April.”

Good to know

fiscal policy / rules / year. Wider: financial. Central-bank twin: monetary. Not a family budget. UK: chancellor / Budget.

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