From a so called ‘pasty tax’, to cuts in child benefit, the budget this year has created a lot of media speculation. In addition the Royal Mail has started a panic buying culture of stamps!! Test your students knowledge of what is happening with this weeks quiz.
Download the Word version (with answers and weblinks) here.
- In the budget tobacco duty rates are to go up by 2% above inflation, what level is the current level of inflation?
3.4% ( )
3.6% ( )
3.8% ( )
4.0% ( ) - The personal allowance – i.e. the amount you earn before you pay tax is rising to what level in April 2012?
£9,505 ( )
£8,105 ( )
£11,505 ( )
£10,205 ( ) - Corporation tax – the tax paid by businesses on profit- is to be cut by how much next month?
1% ( )
5% ( )
2% ( )
3% ( ) - There will be an extra how many apprenticeships for young people out of work?
40,000 ( )
50, 000 ( )
60, 000 ( )
70,000 ( ) - The decision to add VAT to the price of all food sold at “above ambient temperature” i.e heated up- had been dubbed what in the media?
‘Pizza tax’ ( )
‘Panini tax’ ( )
‘Take-away tax’ ( )
‘Pasty tax’ ( ) - Forecast economic growth for 2013 is what level?
1% ( )
2% ( )
3% ( )
4% ( ) - The price of a pint will rise by how much in April?
5p ( )
10p ( )
15p ( )
20p ( ) - Child benefit is to be reduced and anyone earning more than what level will lose the benefit completely?
£55, 000 ( )
£40, 000 ( )
£60,000 ( )
£45, 000 ( ) - OBR forecasts unemployment to peak this year at what level this year before falling to 6.3% by 2016-17?
9.5% ( )
9.1% ( )
8.7% ( )
10% ( ) - A final question not in the budget…. But very much in the media this week –
The postal service announced that the price of a first-class stamp will rise from 46 pence to 60 pence next month. Second-class stamps will rise from 36 pence to what price?
45p ( )
50p ( )
55p ( )
40p ( )
Donna Jestin
Teacher of Business Studies Notre Dame College & Senior Examiner for AQA
