Government Revenue and Expenditure in Business Studies
Explore the various sources of government revenue and types of expenditure in this Business Studies lesson. Learn to differentiate between capital and current revenue and expenditure to enhance your knowledge in economics.
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Government Revenue and Expenditure 2nd year Business Studies Ms Biddulph
Learning Intentions Analyse the different sources government revenue and types of government expenditure. Distinguish between Capital and Current revenue and expenditure.
Remember where you see this symbol you must add to your notes.
Income from Taxation EU Grants Government Revenue The income of the government. Sale of Semi State Bodies Dividends from State Bodies
Revenue from Taxation Income Tax Deposit Interest Retention Tax A tax charged on the interest on savings. A tax charged on employees wages. Customs Duties Corporation Tax A tax charged on company profits. A tax charged on some goods coming into Ireland from outside the EU. Excise Duties Value Added Tax (VAT) A tax charged on goods and services A tax charged on cigarettes, alcohol and petrol.
Government Revenue from other sources EU Grants Money Given to Ireland from the European Union for Specific Projects such as infrastructure (roads and rail lines) Sale of Semi State Bodies Income from the sale or part-sale of a semi state company. Dividends from Semi State Bodies This is the government's share of the profits made by a semi state body.
Types of Government Income Current Income Capital Income Day-to-day or regular income. Long -Term of once off Income. Revenue from Taxation Profits from state companies Lotto Receipts EU Grants Sale of state -sponsored body Borrowings from the world bank
Stop here! Please complete the Exit Ticket for Lesson One
Learning Intentions Analyse the different sources government revenue and types of government expenditure. Distinguish between Capital and Current revenue and expenditure.
Remember where you see this symbol you must add to your notes.
Wages and Salaries Social Welfare Government Current Expenditure Day to day or Regular Expenditure Overheads Loan Interest
Social welfare Payments made weekly to citizens of the country who are entitled to receive them. For example: Jobseekers Benefit Child Benefit Carers Allowance Retirement Pension
Wages and Salaries The government is responsible for the payment of wages and salaries to all civil servants, including: Teachers Gardai Doctors and Nurses County council staff
Overheads The government is responsible for paying overheads, such as light and heat for all public bodies. Such as: Schools Government Departments Hospitals Public Roads and Parks
Loan interest Each year the government must repay interest it owes on the national debt. This is known as Debt Servicing.
Equipment Infrastructure Government Capital Expenditure Long Term or Once-off Expenditure Grants Debt Repayment
Infrastructure The government is responsible for providing the basic facilities, services, and installations needed for the functioning of a community or society, such as: Parks Transport Networks Roads Museums
Equipment The government provides the finance to buy equipment for use in government buildings and by government agencies. Garda Cars Army Equipment Ambulances Navy Ships
Grants The government offers grants (a non - repayable source of finance) to many different people and groups. Households Agriculture Education
Debt Repayment Each year the government will try and repay some of the debt it owes to the various EU Financial institutions and other countries.
Learning Intentions Analyse the different sources government revenue and types of government expenditure. Distinguish between Capital and Current revenue and expenditure.
The End Please complete the Exit Ticket for Lesson Two
