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We also expect claims that it could eliminate portfolio-wide hedging, which would make banks less able to offset risk.
By contrast, poorer areas, where council tax accounts for a much smaller proportion of their total incomes, will be able to raise far less and will, as a result, be less able to offset the latest round of central government funding reductions.
Based on the trends of the past three months, it could fall by 8% this year.This is especially worrying because it means that, despite holding its own rates to record lows and feeding money into the economy through quantitative easing, the Bank of England is ever less able to offset tight fiscal policy with loose money.
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This "balkanisation" of finance may well lead to a financial system that is more resilient to foreign shocks, but less diversified and therefore riskier.Diversified banks with operations around the world are generally able to offset losses in one country with profits from another.
This is consistent with the idea that single segment firms are affected more by the increased competition, whereas multi-segment firms might be able to offset increased competition in one industry by shifting their focus to other less competitive segments.
By raising more money from his very biggest and very smallest donors, Mr. Obama has been able to offset his losses from the business world and from previous contributors who gave less or not at all this time, whether because of the recession or fading enthusiasm.
It might be able to offset this by encouraging migrants.
"Hopefully, with our quickness, we'll be able to offset our size," Orr said.
But he definitely thinks central banks won't be able to offset the deflationary hit.
And if they give, they will be able to offset their donation directly against tax.
Chávez was able to offset the United States' influence by rallying his fellow-leftists in Latin America.
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