Volume 15, Issue 2 – Krever

BOOK REVIEW: GIANLUIGI BIZIOLI AND CLAUDIO SACCHETTO, TAX ASPECTS OF FISCAL FEDERALISM, IBFD, 2011

By Richard Krever

Constitutional specialists and political economy scholars commonly believe (wrongly) that federalism is a matter of constitutional divisions of powers and responsibilities and the political and legal processes of reconciling overlaps and lacunae arising from those divisions. Political realists know it’s all about the money – specifically which level of government gets to tax what. The constitution may give lower tier governments responsibilities for constructing highways, establishing universities, building hospitals, regulating superannuation systems and funding schools and disability programs. The true power, however, lies with the government that has the cash.

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