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Questions and Answers
What is the purpose of the Budget in the context of the UK government?
What is the purpose of the Budget in the context of the UK government?
- To announce new taxes
- To discuss upcoming social events
- To detail changes to the voting process
- To outline plans for collecting and spending money (correct)
How does the National Insurance (NI) system work in the UK?
How does the National Insurance (NI) system work in the UK?
- It is a voluntary contribution to a personal retirement fund
- It is a tax taken out of people's wages to fund pensions and other benefits (correct)
- It is a fee paid by companies to employ workers
- It is a tax taken out of people's wages to fund military operations
What change did Jeremy Hunt announce regarding the child benefits system?
What change did Jeremy Hunt announce regarding the child benefits system?
- He introduced a tax on child benefits
- He reduced the amount of child benefits given to families
- He increased the income threshold to £80,000 for receiving child benefits (correct)
- He eliminated child benefits for families with incomes over £60,000
Which of the following is a common use of taxes in most countries?
Which of the following is a common use of taxes in most countries?
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Why might this Budget be the last one by the current Government of the UK?
Why might this Budget be the last one by the current Government of the UK?
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