Managing the economy
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Transcript of Managing the economy
SECTION 1MANAGING THE
ECONOMY
Managing the economy
GCSE ECONOMICS: UNIT 12
Government Tax Revenue & Expenditure
SECTION 1MANAGING THE
ECONOMYLearning Objectives
• Understand how the government collects money from UK citizens
• Analyse what the government spends its budget on
SECTION 1MANAGING THE
ECONOMY
Step 1: find definitions of the following types of Government Revenues
• The government collects money (revenue) from UK citizens in a number of ways– Business Rates– Council Tax– VAT– National Insurance– Excise Duties– Corporation Tax– Income Tax
SECTION 1MANAGING THE
ECONOMY
Step 2: Rank the Government Revenues in order of importance (highest earner to lowest earner)
• Business Rates• Council Tax• VAT• National
Insurance• Excise Duties• Corporation Tax• Income Tax
SECTION 1MANAGING THE
ECONOMY
Step 2: Rank the Government Revenues in order of importance (highest earner to lowest earner)
SECTION 1MANAGING THE
ECONOMY
Plenary: describe this chart in one sentence
SECTION 1MANAGING THE
ECONOMY
Mind-mapping:Government Revenues &
Expenditure
• Using the materials you have produced and been given (A3 photocopy) produce a mind map illustrating Government Revenues & Expenditure
Gov. revenues & Expenditure
Direct Taxes
Indirect Taxes
Gov. revenue
Health
Social Protection
Gov. expenditure