PS Income And Tax And Governemnt Funding Flashcards
1
Q
What is austerity
A
Strict economic policies to control growing public debt. The spending on public services is cut to try balance the books
2
Q
What does austerity impact
A
Protective services
Public services employees
The community they serve
3
Q
The results of austerity
A
Lack of resources
Stress
Slower response times
Reduced manpower
Poorer service to community
Fire station and police station closures
4
Q
Other sources of funding
A
Income and rents charged by public service organisations
National lottery
Donations and legacies
5
Q
Where does the government funding come from
A
Income tax
National insurance
Corporation tax
Property tax
Inheritance tax
VAT
Council tax
6
Q
What is income tax
A
At tax you pay on your income. The more you earn, the more you pay
