Chapter 16 - The National Budget

Question 1

Public utilities

Answer 1

Services provided by the state for people for the country

Question 2

Name three services are provided by the Department of Education and Skills

Answer 2

►Schools a nd universities
►Teachers and salaries
►School equipment

Question 3

Name three services are provided by the Department of Environment, Heritage and Local Government

Answer 3

►Roads
►Lighting
►Parks

Question 4

Name three services are provided by the Department of Justice, Equality and Law Reform

Answer 4

►Gardaí
►Courts
►Judges

Question 5

Name three services are provided by the Department of Defence

Answer 5

►Tanks
►Army, navy, air corps salaries
►Ships

Question 6

Name three services are provided by the Department of Social Protection

Answer 6

►Jobseeker’s Benefit
►Disability Benefit
►Pensions

Question 7

Name three services are provided by the Department of Health and Children

Answer 7

►Medical cards
►Doctors
►Nurses

Question 8

Name two services are provided by the Department of Enterprise, Trade and Innovation

Answer 8

►Grants

►Assistance for business

Question 9

Name three services are provided by the Department of Communications, Energy and Natural Resources

Answer 9

►Ports
►Harbours
►Forestry

Question 10

Name three services are provided by the Department of Tourism, Culture and Sport

Answer 10

►Museums
►Sports grants
►Tourism

Question 11

What service is provided by An Post?

Answer 11

Postal service

Question 12

What service is provided by VHI?

Answer 12

Health Insurance

Question 13

What service is provided by ESB?

Answer 13

Electricity generation and supply

Question 14

What service is provided by IDA?

Answer 14

Grants and incentives to foreign businesses

Question 15

What service is provided by RTÉ?

Answer 15

TV and radio

Question 16

What service is provided by CIÉ?

Answer 16

Bus and rail transport

Question 17

What service is provided by Bord Gáis?

Answer 17

Natural gas supply

Question 18

What service is provided by Bord na Móna?

Answer 18

Peat production

Question 19

What service is provided by FÁS?

Answer 19

Provision of training for youth and unemployed

Question 20

What service is provided by BIM?

Answer 20

Services to fishing industry

Question 21

What service is provided by Bord Bia?

Answer 21

Food and drink promotion

Question 22

What service is provided by Fáilte Ireland?

Answer 22

Promoting tourism

Question 23

National budget

Answer 23

Document that gives a detailed breakdown of government income and expenditure for the next year

Question 24

What is the procedure for preparing the national budget?

Answer 24

○Each govt. minister decides how much money they need to run their department and gives this info to the Minister for Finance
○These figures are called estimates and are all put together in a book of estimates
○The Minister for Finance looks at these estimates and decides how much to give each deprtrment
○This amount is known as department budget

Question 25

What are the governments main sources of income?

Answer 25

~Taxes ~EU grants ~Sale of semi-state bodies ~Dividends from state-sponsored bodies

Question 26

Current income

Answer 26

Day-to-day or regular income

Question 27

Capital income

Answer 27

Once -off income

Question 28

Current expenditure

Answer 28

Day-to-day or regular expenditure

Question 29

Capital expenditure

Answer 29

Once-off expenditure

Question 30

Balanced budget

Answer 30

Where planned total income is equal to planned total expenditure

Question 31

Income tax

Answer 31

Tax paid by employees on their income 21%/41%

Question 32

Corporation tax

Answer 32

Tax paid by company on their profits 12.5%

Question 33

VAT

Answer 33

Tax included in price of goods and services 23%

Question 34

DIRT

Answer 34

Tax on interest earned on your savings

Question 35

Customs duties

Answer 35

Tax on goods coming into Ireland from certain other countries

Question 36

Excise duties

Answer 36

Tax on cigarettes, alcohol and petrol

Question 37

Travel tax

Answer 37

Tax paid by people when they leave the country on business or on holiday

Question 38

Surplus budget

Answer 38

Where planned total income is greater than planned total expenditure

Question 39

Deficit budget

Answer 39

Where planned total income is less than planned total expenditure

Question 40

Debt servicing

Answer 40

Refers to the amount of money allocated in budget to paying off part of Ireland's national debt (interest and amount borrowed)