SECTION 1 MANAGING THE ECONOMY Managing the economy GCSE ECONOMICS: UNIT 12 Government Tax Revenue & Expenditure

SECTION 1 MANAGING THE ECONOMY Learning Objectives Understand how the government collects money from UK citizens Analyse what the government spends its budget on

SECTION 1 MANAGING 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 1 MANAGING 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 1 MANAGING THE ECONOMY Step 2: Rank the Government Revenues in order of importance (highest earner to lowest earner)

SECTION 1 MANAGING THE ECONOMY Plenary: describe this chart in one sentence

SECTION 1 MANAGING 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