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Title Cost Estimates for Bills - Principles and Methods -

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A framework of national financial management has been recently changed. The National Fiscal Management Plan is formulated annually including fundamental aims and basic direction of national fiscal management for more than five fiscal years. The Annual National Fiscal Management Plan also includes middle and long term the budget and economic outlook and effective allocation scheme of resources for each sphere. A way of compilation of the budget has been also altered. According to its priority, each government agency is required to prepare its draft budget within the budget aggregates decided by the National Assembly around April.

Alterations are also found in legislative proceedings. As both the National Assembly Act and the National Budget Act are revised, every bill, submitted not only by members of the Assembly but also by the Committees or the government, should be estimated its costs. Especially when a bill requires fairly big financial support, it should be discussed in the Special Committee on Budget and Accounts.

Cost Estimates for Bills plays a critical role in these systematic changes. Without Cost Estimates, it is impossible to consider important factors, such as the supplement for financial resources, required to carry out the bills or to evaluate the financial effects. Moreover, it is also difficult to draw up or operate the national finance without Cost Estimates.

This report, Cost Estimates for Bills ?Principles and Methods-, covers principles, methods and accumulated information of cost estimates for bills. This information has been acquired through 350 actual cases for three years. Especially the useful information on cost estimates in chapter three is based on broad researches and analyses on 800 cost estimates, 750 government agencies, and 4000 national budget activities.

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