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