budget

WALKING back from her daily shop Beth Maitland, 32, isn’t worried about traffic jams, beeping horns or the cost-of-living crisis.

She’s more concerned about a local elephant trying to steal her bag of fruit.

It’s Beth’s ‘new normal’ since fleeing Britain over twelve months ago to begin her new life in Thailand, where rent is a fifth of the price, a dinner out costs just two quid, her front garden is a beach and her backyard rice paddies overlooked by a mountain range.

Thailand is routinely voted one of the top twelve destinations for Brit tourists where the pound goes a long way.

It’s estimated 55,000 Brits, from backpackers to retirees, have chosen to bail out of Britain, trading cold, gloomy weather for the tropical paradise and beaches known as the Land of Smiles.

Relocations have soared by a staggering 255 per cent since 2018, driven by Thailand’s Long-Term Residence or LTR visa which offers 10-year residency with tax exemption.

Beth, a former NHS maternity support staffer moved from Plymouth, Devon to the island oasis of Koh Samui in southern Thailand in March last year.

Talking exclusively to The Sun, Beth revealed: “I rent a two-bedroom cottage in the jungle, there are rice fields on one side, jungle on the other and it’s 15 minutes to the beach. From the roof I can check out the surf or plan a mountain hike in the other direction.

“If I paid the price I was paying in the UK, which was £700 for a studio flat in Plymouth, I could get a four-bedroom house with five bathrooms, a pool and a garden on the island’s outskirts with elephants as neighbours.

“The first month converting pounds to Thai currency – the Baht – was a nightmare and so was finding the perfect place to live. 

“Now it’s like I have lived here all my life. I am always shocked at how cheap food, accommodation and transport is compared to Britain. 

“The cost of living is so cheap I eat out for lunch and dinner every day. I haven’t had a ready meal since I moved here.

“Everything except British food is cheaper. For the first time in a decade, I feel I have a positive future, can buy a home, and achieve my career goals.”

Millennial Beth grew up in Plymouth and loved surfing in the summer months when the weather was good enough. 

She spent the next seven years working twelve-hour shifts as a nursing home assistant in Exeter before spending six months backpacking in Australia and Asia.

“I felt inspired by the Asian culture but thought I’d never be able to work or move there.

“I came back home in December 2019 to miserable winter weather and started work as an NHS maternity support staffer.”

Brighter future

When Covid hit, Beth says she found herself re-examining her life.

“Working during lockdown for the NHS was a privilege but it took its toll. I lost friends and patients.”

When the cost-of-living crisis hit Beth felt overwhelmed by work and a feeling her future wouldn’t be the one she wanted if she stayed in Britain.

“After rent and bills were paid, I was saving no money at all. When I hit 30, I knew if I didn’t act, I’d been in the same place with no savings when I hit 40. I couldn’t let history repeat.

“The government wasn’t offering young people like me hope. My friends could only buy a house if their parents helped.

“Other friends were marrying and having children admitting that they felt the goals they wanted for their twenties were no longer possible.”

It was when two of her close friends left to become digital nomads in Thailand and Bali in January 2024 Beth was inspired to act, realising she had a choice – commit to miserable weather, rising prices and a job in the NHS which wasn’t offering career development, or take a gamble, pursue a new career and move to Asia herself.

“Many of my work colleagues were shocked,” she says. “They couldn’t comprehend moving overseas, let alone to Thailand.

“It was terrifying and exciting for me but having friends living and working there already kept me going.” 

Beth isn’t the only millennial making the life-changing decision to flee to a new country instead of settling down and concentrating on their career here.

I sometimes think I have a career and life whiplash at the speed and dramatic change which occurred

Beth

The Currencies Direct’s British Expat Report 2024 revealed nearly 40 per cent of Brits are considering moving overseas due to the cost of living while a fifth, like Beth, feel a fresh start in another culture would be beneficial for their wellbeing and mental health.

And it’s the young who are leading the great British brain drain, and more than a third of people under 24 are planning to leave Britain in the next five years. 

Dramatic change

After a tip from a friend based in Thailand, Beth applied online as a full-time travel manager running group tours.

Just two Zoom interviews later and she was offered the job and within two months was living and working in Thailand.

Beth says even she was shocked by how quickly her life changed.

“I sometimes think I have a career and life whiplash at the speed and dramatic change which occurred.”

She explains: “I used to work part-time at holiday camps during my teenage years. As a maternity support worker, I was good at helping people before, during and after labour with all ranges of problems. 

Now two weeks of every month Beth travels with 30 holiday makers, overseeing their organised tour of Thailand’s islands and regional areas.

“Imagine running a creche on wheels for people of all ages and from all different countries on their first overseas holiday. I love it,” she says. 

“There is never a dull moment. People want to know if we are there yet, where the meet up point is, what the Wi-Fi code is, if they need sunblock, can they borrow a charger and when we are stopping for food. Or the loo.

“I must be a mother, nurse and organiser. I tell people making kittens and squirrels walk in a straight line is often easier.”

Beth then gets two weeks off and either spends time at her rented cottage or using it as a base to travel to other Asian countries.

She pays £150 a month rent for the two-bedroom countryside cottage which includes her water, electricity and air conditioning, as well as use of communal pool and gym.

“There are ten cottages and it’s full of long-term Brits based here. My phone bill is £20 a month and I share it with a friend.”

Beth says she now rarely cooks because the price of food at local restaurants and roadside food carts is so cheap.

My diet has improved dramatically. I haven’t had a microwave meal since I moved here. It’s fresh fruit and vegetables every day

Beth

“I have fruit or cereal for breakfast. I eat lunch and dinner out. It costs £2 for lunch or £3 for dinner. I usually grab stir fry, curry, Thai soup or rice dishes as well as a dessert, usually a sorbet, fruit platter or ice-cream.

“My diet has improved dramatically. I haven’t had a microwave meal since I moved here. It’s fresh fruit and vegetables every day.”

Cheap living

Grocery shopping isn’t the weekly trek to the supermarket like it is in Britain.

“I go to the local markets and buy bags of fruit and fresh meat if I plan to cook, which isn’t often.

“A pint of milk costs the equivalent of 56p, a large loaf of white bread is around 90p, a dozen eggs are 90p, a half a kilo of red meat is £7, chicken is just £1.85 a kilo. Cheese is the most expensive item costing £7 to £8 for half a kilo.”

Beth admits she does miss her British staples and those that are available come at a price.

“HP sauce costs £6 a bottle, Heinz Baked Beans are an eye watering £4.50 while a Lindt chocolate bar sets you back a fiver,” she says.

“I usually grab bread, milk, some cheese and a huge bag of vegetables and fruit for a fiver. Fortunately, good quality tea bags only cost £1 for a box here.”

Beth says wine is expensive costing £12 to £15 a bottle but local beers cost £1-£1.20 for a half litre bottle and cocktails are between £2 and £3.50, depending on the spirits you choose.

“If you go to a five-star hotel you will pay more. 

“Gym membership is £22 a month and a trip to a foreign cinema is £5.60 if you are missing home.

“I had to hunt down a good cafe for a cappuccino and it costs £1.70 for a catch up with my mates. I was paying £5.60 for a posh coffee at Starbucks in the UK, I can’t believe it.”

Beth says she doesn’t need a car and uses the local car or bike service called ‘Grab’, which is similar to Uber, to book travel online.

“A bike, which means I am a pillion passenger, is 50p and a taxi is around 78p a mile.

The standard of health care is better than Britain

Beth

“When I first moved here, I refused to use the motorbike ‘cab’ – now it’s second nature.

“If you do own or rent a car it costs 96p a litre to fill up the tank. A new Toyota Corolla sedan costs on average £19k new.”

Beth says if you have children private preschool starts at £275 a month per child and the private international primary school begins at £4,500 a year.

“I was stunned by the brilliant quality of healthcare available here in Thailand. When there was no delay to see a dentist or doctor I was gobsmacked. 

“The standard of health care is better than Britain.” 

Beth recently paid £50 to see a dental hygienist and £150 for a tooth extraction and filling. Back home I’d either be forced to wait one or two years to get an NHS dentist or pay more than £500 plus for the dental work.

Dinner splurges

According to financial website livingcost.org, Britain is ranked as the 11th most expensive country in the world while Thailand is the 114th most expensive.

Beth told us: “The cost of living is a lot cheaper – from shopping, to petrol, accommodation to food.

“If my friends and I went out for a splurge dinner, that costs us around a tenner for food and drinks all night plus the cab home.”

Beth usually buys her clothes at the local market but if she wants a retail hit H&M have stores in Thailand.

“If it gets hot, I peel off a layer. It can get cold during the equivalent of the winter months, and I pop on a sweater.

“It’s the wet season that causes problems but you learn to keep umbrellas handy.”

According to Beth, Thailand is now extra popular on the backpacking must-visit list with marijuana being legalised.

I feel calmer, more centred, and less stressed living here than I did in Britain

Beth

“Holiday makers are often shocked that pot cafes exist and pot is legally sold here,” she said.

Many of my thirty-something friends are moving here because Thailand is well known for its amazing spiritual and mental health clinics and holidays.

“It’s a very spiritual country. For people in their thirties moving here often means setting up wellbeing businesses or mediation and other fitness styled retreats.

“I feel calmer, more centred, and less stressed living here than I did in Britain,” she said.

“Everyone is meditating or trying a new yoga or healthy living trend.

“It’s a way many Brits not only embrace a new way of living, but a new career counselling or operating healing centres others move here to set up online businesses.”

Beth loves her new career path and says she is saving to buy a property on Koh Samui. 

“You can spend £70k for a basic three-bedroom apartment with four bathrooms, a communal pool and a countryside view. 

“When you consider that wouldn’t get me a static caravan in Britain it’s a brilliant option.”

Beth admits she misses her family and friends.

“I was homesick for the first six weeks. I try to come back to Britain once or twice a year.

“Once you make a few friends, join the various social media groups for expats and get yourself into a routine it becomes a new normal.

“I have hope again. I thought I would never feel this way. It turns out sun, surf and wrangling tourists is the perfect tonic.”

TRACY Kennedy is the Queen of Holidays from £9.50, having taken 30 of them and with even more booked to come.

In her decades of Sun holiday experience, Tracy has stayed in holiday parks all over the UK – and knows exactly how to make the most out of your £9.50 break.

So whether you’re wondering when is the best time to book, or how to choose a holiday park with plenty to do for both adults and kids – Tracy’s here with all the answers.

Is it best to book super early or wait for the last minute deals?

Lyn Shephard

Definitely book as early as you can, because the popular and cheap accommodation goes quickly. And it’s better to have more choice between the holiday parks.

Not everyone is able to book something in January. Don’t worry if you’ve missed out on booking early – there’s a top-up of £9.50 holidays later in the year.

Read more on £9.50 holidays

PITCH IN

Our £9.50 Holidays expert answers YOUR questions – including top parks for couples

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Our Hols from £9.50 Agony Aunt answers YOUR questions about booking with The Sun

Make sure to check all of the promotions that pop up, because sometimes the cheaper options will come back. They’re definitely worth a look, especially if you weren’t able to book on the first release.

Any suggestions for parks better catered to the elderly?

Henry McCaffery

I’d recommend Parkdean Resorts’ Cherry Tree in East Norfolk. It’s in a beautiful countryside setting, and only a short drive to the beach.

It’s very much a relaxing holiday, and there’s plenty to do nearby.

You’ve got Gorelston-on-Sea a 10-minute drive away, and Burgh Castle is only a couple of minutes away. Plus there’s Lowestoft to visit in the opposite direction, if you want a day trip out.

There’s also plenty to do on the park itself, and lots of countryside walks nearby. Norfolk is very flat, so you won’t have to walk up many hills.

Lighthouse Leisure up in Scotland is another good option. It’s a smaller park, with lots of local things to do in the area.

It’s less than an hour’s drive to Gretna Green, or you could visit Sweetheart Abbey, its a really pretty old building. There’s even bird-watching sanctuaries up there, too.

And if you visit at quieter times of year, like during school term times, any park will be quieter. Everything winds down then, and it feels a lot more peaceful.

Where is the best place to go on a walking holiday on a small budget?

Thomas Riley

For the best walks, I’d recommend a site in Wales or a site on the Coastal Path.

One of the best would be Golden Sands in Rhyl. If you use that park as a base, you’ve got loads of walks from there.

The walking route runs all the way from the holiday park to Llandudno – you probably couldn’t do the whole thing in one day, but it depends how fit you are!

Alternatively, stay at a camp near Snowdonia, and drive out there.

If you stay somewhere like Ty Mawr in Conwy, it’s about a 10-minute drive to get into Snowdonia. And there’s not much that beats the nature there!

A good option in England would be to stay in Malvern. You’ve got the Malvern hills, which when I went I thought were absolutely stunning.

Plus, it makes for a nice walking break that’s not coastal.

Can you buy more than one discounted holiday?

Elaine Burns

Oh yes you can! You can use your codes or the Sun Club entry to book as much as you want. You could book 50 holidays if you really wanted to.

I know people in my Facebook group who have booked weeks back-to-back and gone away for a whole month.

They were free to take some time off work, so they booked this way as it was more affordable for them. It was much cheaper than booking direct, so they were very happy!

Is there a curfew at holiday parks?

I. Jones

In my experience there’s been no curfews at holiday parks.

Once you’ve got your keys to your caravan, you can come and go whenever you want.

A lot of holiday parks have entertainment and bars open until midnight and beyond, but even when they shut that doesn’t stop you going out and coming home whenever you want.

Just make sure to double check with your specific park.

My kids love going on sunny holidays while my wife and I love culture and history, how can we blend both into one holiday?

Chris Fox

I’d recommend Parkdean Resorts Camber Sands in East Sussex, it’s an option that’ll please both you and the kids!

The beach is beautiful, and it’s great for kids to run around and play. Plus there’s a little amusement park on the seafront.

It’s also only a 10-minute drive or bus journey into the town of Rye, which is really pretty and old-fashioned.

And if you want a good day out for history, go out further to Hastings. I stayed in Hastings for one of my first ever Sun holidays, and I loved it.

There’s absolutely loads for history lovers in 1066 Country – I went to Hastings Castle and loved it, and there’s Battle Abbey too.

And if you like quaint little old shops, there’s Hastings Old Town, with lots of unique shops to have a nosy in.

New budget includes a $7.6m military spending increase and aims to cut the deficit to 5 percent by the end of 2026.

France has passed a budget for 2026 after two no-confidence motions failed, allowing the legislation to pass and potentially heralding a period of relative stability for Prime Minister Sebastien Lecornu’s weak minority government.

The budget, adopted on Monday after four months of political deadlock over government spending, includes measures to bring France’s deficit down and boost military spending.

“France finally has a budget,” Lecornu said in a post on X. “A budget that makes clear choices and addresses essential priorities. A budget that contains public spending and does not raise taxes for households and businesses.”

Motions tabled by France Unbowed, the Greens and other left-wing groups drew 260 of the 289 votes needed to oust the government. The far-right motion secured only 135 votes.

Budget negotiations have consumed the French political class for nearly two years, after President Emmanuel Macron’s 2024 snap election delivered a ⁠hung parliament just as a massive hole in public finances made belt-tightening more urgent.

The budget talks have cost two prime ​ministers their jobs, unsettled debt markets and alarmed France’s European partners.

However, Lecornu – whose chaotic two-stage nomination in October ‍drew derision around the world – managed to secure the support of Socialist lawmakers through costly but targeted concessions.

Reducing the deficit

France is under pressure from the European Union to rein in its debt-to-GDP ratio – the bloc’s third-highest after Greece and Italy – which is close to twice the EU’s 60-percent ceiling.

The bill aims to cut France’s deficit to five percent of gross domestic product (GDP) in 2026 from 5.4 percent in 2025, after the government eased back from an earlier target of 4.7 percent.

The budget includes higher taxes on some businesses, expected to bring in about 7.3 billion euros ($8.6bn) in 2026, though the Socialists failed to secure backing for a proposed wealth tax on the superrich.

It also boosts military spending by 6.5 billion euros ($7.7m), a move the premier last week described as the “heart” of the budget.

The Socialists did, however, win several sought-after measures, including a one-euro meal for students and an increase in a top-up payment for low-income workers.

Modi’s government presents annual budget, focusing on sustaining growth despite volatile financial markets and trade uncertainty.

Indian Prime Minister Narendra Modi’s government has unveiled its annual budget, aiming for steady growth in an uncertain global economy rocked by recent tariff wars.

Finance Minister Nirmala Sitharaman presented the budget for the 2026-2027 financial year in Parliament on Sunday, prioritising infrastructure and domestic manufacturing, with a total expenditure estimated at $583bn.

India’s economy has so far weathered punitive tariffs of 50 percent imposed by United States President Donald Trump over New Delhi’s imports of Russian oil. The government has sought to offset the impact of those duties by striking deals, such as its trade agreement with the European Union.

Despite the past year’s challenges, the Indian economy has remained one of the world’s fastest growing.

The budget for the new financial year, which starts on April 1, projects gross domestic product (GDP) growth in the range of 6.8 to 7.2 percent, according to the government’s annual Economic Survey presented in Parliament. It is a shade softer than this year’s projected 7.4 percent but still outpaces estimates by global institutions such as the World Bank.

To keep growth strong, the government said it will spend 12.2 trillion rupees ($133bn) on infrastructure in the new fiscal year, compared with 11.2 trillion rupees ($122bn) last year. It will also aim to boost manufacturing in seven strategic sectors, including pharmaceuticals, semiconductors, rare-earth magnets, chemicals, capital goods, textiles and sports goods while stepping up investments in niche industries like artificial intelligence.

Despite plans to prop up growth with state spending, the government is aiming to bring down the federal government debt-to-GDP ratio from 56.1 percent to 55.6 percent in the next financial year and the fiscal deficit from its current projected level of 4.4 percent of GDP to 4.3 percent.

Sitharaman offered no populist giveaways, saying New Delhi would focus on building resilience at home while strengthening its position in global supply chains, marking a departure from last year’s budget, which wooed the salaried middle class with steep tax cuts.

Before the budget presentation, Modi on Thursday said the nation was “moving away from long-term problems to tread the path of long-term solutions”.

“Long term solutions provide predictability that fosters trust in the world,” he said.

Modi’s government has struggled to raise manufacturing from its current level of contributing under 20 percent of India’s GDP to 25 percent to generate jobs for the millions of people entering the nation’s workforce each year.

It has also seen a sharp decline in the value of the rupee, which has recently weakened to all-time lows after foreign investors sold a record amount of Indian equities. Those sales have added up to $22bn since January last year.

“Overall, this is a budget without fireworks – not a big positive, not a big negative,” Aishvarya Dadheech, founder and chief investment officer at Mumbai-based Fident Asset Management, told the Reuters news agency.

Jan. 30 (UPI) — The federal government mostly will go unfunded at least through Monday after the Senate on Friday approved a bill package to fully fund all but the Department of Homeland Security.

Five budget bills would fund the majority of the federal government through the 2026 fiscal year, which ends on Sept. 30, but Homeland Security only is funded through Feb. 13 in a sixth bill.

The two-week extension enables lawmakers to debate proposed changes regarding Immigration and Customs Enforcement and Customs and Border Protection enforcement activities.

The six measures must be approved by the House of Representatives, which will take them up on Monday and send them to President Donald Trump for signing if House members concur with the changes made in the Senate.

The Senate voted 71-29 to approve House Resolution 7148 early Friday evening.

While the measure awaits approval in the House and eventual signing by the president, the federal government mostly will shut down at 12:01 a.m. EST on Saturday, but lawmakers expect that lull to be short and over by Tuesday.

House Speaker Mike Johnson, R-La., on Friday told media that he expects to fast-track the voting by suspending the House floor rules and immediately approve the budget measures, which only require a simple majority in the House versus at least 60 votes in the Senate.

The vote to suspend the rules, though, requires a two-thirds vote of House members.

The Homeland Security budget still would need to be debated and could lapse if it is not approved and signed into law by the end of the day on Feb. 13.

Sen. Rick Scott, R-Fla., told media he does not expect Homeland Security to be funded by Feb. 13.

“I believe this is a horrible bill,” he said on Friday. “I can’t believe we’re not funding ICE.”

He said he doesn’t believe it will be funded in two weeks, either.

Congressional Democrats are demanding an end to sweeps through targeted cities, want ICE and CBP officers unmasked and wearing body cameras, and want judicial warrants instead of administrative warrants issued to target and arrest individuals.

Sen. Lindsey Graham, R-S.C., was unhappy that the Senate removed a provision approved by the House that would have enabled him and others to sue the Department of Justice for seizing his phone records during the Biden administration’s Operation Arctic Frost.

Graham was among eight Republican senators whose phone records were accessed by the DOJ, which he called illegal.

“Every Senator should make sure this never happens again,” he told media on Thursday.

Congressional Democrats generally were happy that the Homeland Security funding was separated from a six-bill package to fund the entire government.

They also successfully rejected an effort to reduce the maximum Pell Grant amount by $1,000 and blocked the president’s proposal to lower rental assistance funding and reduce the National Institutes of Health budget.

Democrats were especially pleased that measures approved by the Senate give the Low Income Home Energy Assistance program $20 million more in funding, while the Child Care and Development Block Grant and Head Start each get another $85 million.

Gov. Gavin Newsom’s recently proposed 2026-27 state budget included a pleasant surprise: a deficit of about $3 billion — significantly less than analysts had estimated. But when it comes to California state budgets, good news rarely lasts. Newsom’s own estimates warn that the deficit may reach $22 billion in the following fiscal year.

It is all too common for California’s budget to careen from year to year. Between 2022 and 2024 the state experienced a $175-billion swing from surplus to deficit. This time the crunch came because spending fueled by the post-pandemic economic recovery was not sustainable when revenue plummeted just a few years later — but the state budget has long gone through similar boom-and-bust cycles.

Although California’s leaders deserve their fair share of the blame for putting the state on this budgetary roller coaster, there are three underlying factors that make effective fiscal management in California uniquely challenging: an overreliance on the state’s personal income tax; mandatory spending commitments that limit policymakers’ discretion to address challenges; and a lack of accountability for the taxpayer money that is spent.

First, California has an outdated tax system. In the 2025-26 budget, for example, the personal income tax made up nearly 70% of general fund revenue. By comparison, personal income taxes account for 38% of total state tax collections nationally. The Golden State’s extreme reliance on the personal income tax means that when incomes are high in California, revenue collections are strong, but when the economy slows and incomes fall, state revenue weakens drastically too.

The outsize role that capital gains — income from certain investments — play in revenue makes the volatility worse. High earners tend to earn a larger share of their total income this way. In fact, the unexpectedly narrow deficit in Newsom’s 2026 budget was due to what California’s Legislative Analyst Office identified as a $42-billion tailwind created by a robust stock market, which led more Californians to earn more capital gains and pay more taxes on those earnings. But when equity markets aren’t performing well, collections take a major hit. Consider this contrast: In 2021, capital gains accounted for almost a quarter of the personal income tax liability in the state, compared with just 10% in 2023.

The reliance on personal income taxes means that as the highest earners leave, so does California’s revenue. In the 20 years leading up to 2023, the top 1% of income earners in the state were responsible for an average of 45% of total personal income tax liability. That’s why policies like the recently discussed “billionaires tax” could lead to capital flight from California, jeopardizing the state’s ability to fund basic services.

The second complicating factor in California’s budget process is the amount of money tied up in spending commitments over which policymakers have little discretion. Many of these restrictions have been imposed by voters over the last several decades in ballot initiatives that have passed with significant margins. Together, these provisions — while well-meaning and politically popular in many cases — create limitations that make budgeting a challenge in California.

For example, funding for the state’s public schools is largely guaranteed by Proposition 98, a state constitutional amendment approved by voters in 1988 that establishes an annual minimum funding amount for public K-12 schools and community colleges. About 40% of the general fund budget in California, or nearly $90 billion in 2026, is committed without exception to K-14 schools through Proposition 98.

California voters have also approved tens of billions of dollars in borrowing over the last 20 years that the state’s constitution requires be paid back from the general fund. These bond authorizations create obligations to repay borrowing for priorities as wide-ranging as health facilities, water infrastructure and wildfire prevention. Repaying these “IOUs” requires policymakers to trim spending in other areas. Also, the state’s rainy-day fund, which is designed to insulate the budget from economic downturns, requires an annual set-aside of 1.5% of estimated general fund revenue.

Finally, California has no systematic way of providing accountability for and assessing whether any of its spending is producing promised outcomes. Governments at every level struggle with the concept of detailing what the “return on investment” is for public spending. But the situation in California is particularly dire. Thus, taxpayers are often stuck financing underperforming government programs riddled with waste and outright fraud, as was the case in the recent $30-billion scandal that afflicted the state’s unemployment insurance program.

In the mid-2000s, California commissioned a unified financial accounting and transparency system known as Fi$Cal that was supposed to replace several outdated systems. Over a billion dollars and several blown deadlines later, the platform still isn’t complete and won’t be fully operational until July 1, 2032. While the state auditor, an official appointed by the governor, does a credible job of analyzing state spending, recommendations for improvements are often not implemented. And the state controller — the elected chief fiscal officer who is responsible to voters for financial oversight of state spending — hasn’t produced California’s annual financial audit on time since 2017.

It’s hard for a state to properly manage its finances when there’s confusion over how much it’s really spending, or whether that money is achieving its intended purpose. But that’s become business as usual here.

Policymakers will have a tough time addressing California’s budget and fiscal challenges unless each of these three underlying factors is addressed. Our antiquated tax code should be reformed to reduce reliance on the personal income tax and raise revenue in a more predictable way. Californians must understand that there are long-term implications of borrowing to address challenges and warily approach future bond measures and other initiatives that tie the hands of policymakers today. And voters should elect politicians willing to provide them with the oversight that’s needed for the taxpayer money that Sacramento spends.

Without these changes, Californians are probably headed for more fiscal follies in the years ahead.

Lanhee J. Chen is a fellow at the Hoover Institution at Stanford University and was a candidate for California state controller in 2022.