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Title: Fiscal Policy - The Budget
Description: The Budget occurs once each year, normally in March or April. It is presented in the House of Commons [Parliament] by the Chancellor of the Exchequer. The Budget is a statement of...
Description: The Budget occurs once each year, normally in March or April. It is presented in the House of Commons [Parliament] by the Chancellor of the Exchequer. The Budget is a statement of...
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The Budget
The Budget occurs once each year, normally in March or April
...
The Budget is a statement of how the
government will raise taxes in order to meet the estimated cost of government spending in the new
‘Tax Year’, which starts on 6th April each year
...
Every Budget many individual and business taxes [e
...
Corporation tax, Employers National Insurance
Contributions] are changed
...
Also, large businesses often lobby the government ahead of the budget to try to influence the
outcome
...
Public Sector Borrowing
In most years the government will plan to spend more than it taxes
...
This gap is known as the Public Sector Net Borrowing or PSNB
...
Tax allowance – An amount of money a person can earn without paying income tax
...
If you pay up to about £40k, you must pay 20%
Title: Fiscal Policy - The Budget
Description: The Budget occurs once each year, normally in March or April. It is presented in the House of Commons [Parliament] by the Chancellor of the Exchequer. The Budget is a statement of...
Description: The Budget occurs once each year, normally in March or April. It is presented in the House of Commons [Parliament] by the Chancellor of the Exchequer. The Budget is a statement of...