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Understanding the Government's Budget
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Understanding the Government's Budget

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Questions and Answers

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?

  • 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?

  • 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?

    <p>Funding public services like the NHS and education</p> Signup and view all the answers

    Why might this Budget be the last one by the current Government of the UK?

    <p>A general election is expected to take place this autumn</p> Signup and view all the answers

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