Government Finances Flashcards
1
Q
UK Budget Deficit
A
4.2% of GDP
2
Q
UK National Debt
A
98% of GDP
3
Q
UK Bond Yields and what they are a good indicator of
A
4.2%
Indicator of COB for the government
This has decreased since the introduction of Trussonomics
4
Q
UK Income Tax Bands
A
0% ~ £12,570
20%, 40%
45% ~ Decreased from £150,000 to 125,000
5
Q
Till what point have the Income Tax Bands been frozen in the UK, and what will this cause?
A
Until 2029
Fiscal drag
6
Q
UK National Insurance Rate + changes in the last two Budgets
A
12% to 10% to 8% now
7
Q
UK Corporation Tax
A
25% (from 19%)
8
Q
UK VAT
A
20%
9
Q
UK Gini Coefficient
A
0.357
