Baile an t-Úllghort, 1ú Deireadh Fómhair 2014
Today the National Treasury Act 2014 was signed into law by the Co-Presidents. The National Treasury was established as the governing body for the state’s finances. The money held by the National Treasury will be the entire monetary assets of the government, and the National Treasury will be obliged to safely store these assets. The National Treasury will be led by the National Treasurer, a position Gurvatan Co-President Pádraig Ó Ceocháin was appointed to today. Much confusion over the currency of the Confederation was cleared up when section 4 of the act clearly stated that the Confederation’s official currency will be the euro. The biggest development is the creation of the National Contribution Charge. The new tax has been described as necessary “to cover the costs of running the state”. It will be the responsibility of the National Treasurer to set the rate of the tax. Mr. Keohane said today that citizens can expect to receive their first bill on 18 October. The final part of the act obliged the government to set out a National Budget each year. No comment was made by the government in relation to when a budget would be released, but it is known that the National Treasury is obliged to assist the government in working out the national budget, and that the national budget will be treated as an act of legislation, and therefore must be approved by the legislative branch. This is a landmark occasion for the state, as it is the first time the government has ever passed legislation in relation to the economy. Mr. Keohane did not say what the rate of tax will be, but this figure may be released soon. The expected rate will be between €3.00 and €4.25 per month per citizen, meaning the government can expect well over €150 in tax revenues per year. With no major spending expected by the government for quite some time, it is expected the Treasury will try and build up a comfortable reserve before budget day.
In accordance with the new Revised Foreign Policy Act 2014, a treaty of mutual recognition establishing diplomatic ties between the Empire of Adammia and Leylandiistan & Gurvata came into effect after both Emperor Adam I and Co-President Fionnbarra Ó Cathail signed it on behalf of their respective states. Both nations recognise each other as sovereign states, and with both leaders holding significant positions in the Grand Unified Micronational, much co-operation can be expected in the future between both states. More can be read on the treaty at the Adammic Express by clicking here.
Today also marks one month since the signing of the Treaty of Union which merged Leylandiistan and Gurvata. In comparison to its predecessors, the Confederation has already achieved a lot in a relatively short space of time. The government of the Confederation has signed into law more legislation in the past week than was ever signed into law by the previous government of the Democratic Republic of Leylandiistan in 21 months. The Confederation, seven days after its inception, annexed additional territory at what is now Dooneen Cove Island, whereas both of its predecessor states never annexed more land beyond their initial claims. “These facts go to show how Leylandiistan and Gurvata can achieve much more as one state rather than two, as neither state has ever been more prosperous as they are now,” said Co-President Ó Cathail. “We can expect much more from the Confederation in the coming months.”