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Question 1: Taxes, borrowings, and Expenditures- Budgetary triangle of government Finding Taxes, borrowings, and expenditures form the three points of the budgetary triangle of government funding. The balance between tax revenue and borrowing must be strictly monitored. Interest charged on the monies borrowed by governments must equally be serviced by the tax revenue collected, eroding the tax revenue. When borrowings become excessive, this can lead to a downward spiral in which the interest charges fully absorb tax revenues. The government cannot justifiably increase the tax revenue, rendering government expenditure on public goods and services impossible. Critically analyse the above statement by i) discussing taxes, borrowings, and expenditures. ii) identify ways in which tax revenues and borrowings can be monitored. iii) justify the interest charged on borrowings and how tax revenue is eroded