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Questions and Answers
What does the Chancellor of the Exchequer oversee?
What does the Chancellor of the Exchequer oversee?
- Education funding
- Healthcare spending
- Government's finance (correct)
- Social protection programs
What is the main focus of social protection spending?
What is the main focus of social protection spending?
- Healthcare and NHS
- Education and training programs
- Defence and security
- State pensions and unemployment benefits (correct)
What is Universal Credit?
What is Universal Credit?
- A payment for defense personnel
- A payment for education expenses
- A payment for those with low income or out of work (correct)
- A payment for healthcare services
Where does the government get money for its spending plans?
Where does the government get money for its spending plans?
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What does the Budget show?
What does the Budget show?
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Study Notes
Government Finances
- The Chancellor of the Exchequer oversees the management of the UK's finances.
Social Protection Spending
- The main focus of social protection spending is to support vulnerable populations, including the poor, elderly, and disabled.
Universal Credit
- Universal Credit is a welfare benefit that combines six existing benefits into one monthly payment to support individuals and families who are unemployed or on low incomes.
Government Revenue
- The government generates revenue for its spending plans through taxes, borrowing, and other sources.
The Budget
- The Budget outlines the government's spending plans, highlighting projected income and expenditure for the upcoming financial year.
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