National finance

Turn to your partner. Try to list five

things our taxes are spent on.

Defence Health

Public order and safety

Housing and the

environment

Education

With a partner discuss which of

these you think the government spends the most money on, down to the least.

£40 billion£126

billion

£33 billion

£24 billion

£89 billion

With a partner discuss which of

these you think the government spends the most money on, down to the least.

the nation’s budget?

Congratulations. You now live here and have a budget of £711 billion.

This is the current government spending:

National

insuranceIncome tax

VAT (Value

Added Tax)

In your groups, see if you can guess where the money from these

different kinds of tax goes.

Corporation Tax

Between £2,500-£35,000 you pay 20% income tax.

Over £35,00 the rate of income tax is 40% Over £150,000 the rate is 50%

The next few slides you will see, pictures of people, their job and salary will flash up.

See if you can calculate how much income tax they will pay.

David Beckham

Footballer

Salary: £40,000,000

Cheryl Cole

Singer/presenter

Salary: 6,000,000

David Cameron

Prime Minister

Salary: £197, 689

Elizabeth Windsor

The Queen

Salary: £7, 900, 000

Robert Pattinson

Actor

Salary: £12,307,692

The ‘what if’ game.

What do you expect to happen when the iphone 5 is released?

How will the price of the iphone 4 be affected?

Why is this?

What is inflation? What does the Bank of England do

when inflation goes up? Read the information card about

inflation.

You are at a Barter Market fifty years ago. You will each be given a random selection of cards. Your challenge is

to barter and swap them with other people. Once you

have finished, the true prices of these items will be revealed and you will have

to calculate the value of your goods. Whoever has

the highest value wins!

You are now going to create your own currency.

Sketch your design first, and then, using (card/foil/paint/pens) create your currency.