0 a situation in which money from a particular tax is only spent on one particular thing: --
1 a situation in which an organization borrows money in relation to particular assets that become the property of the lender if the borrower cannot pay back the loan: --
There are grave disadvantages to this policy of hypothecation.
In a sense, of course, the arrangements now made with the national oil account are a species of hypothecation.
However, we are then told that hypothecation may continue into the future for specific schemes.
That does not mean automatically that hypothecation will end.
He is opposed to any charging scheme unless there is clear hypothecation.
However, in subsequent elections, a party that opposed hypothecation after, say, 10 years could put its alternative proposals to the electorate.
What assessment he has made of the advantages of extending the principle of hypothecation in the tax system.
There is certainly no question of hypothecation of those revenues.
