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Every government spends money and levies taxes to finance its expenditure. Every government must therefore regularly decide how much to spend, what to spend it on and how to finance its expenditure. It must therefore have a policy in respect of the level and composition of government spending and taxation. This is called fiscal policy . The main instrument of fiscal policy is the budget, presented annually by the Minister of Finance to Parliament. In the budget the Minister outlines government's spending plans for the financial year, which runs from 1 April of the current year to 31 March of the following year, and also outlines how government proposes to finance its expenditure (through taxes, loans etc.).