UK Government Finances Flashcards
1
Q
What has been the budget deficit (2023-2024)?
A
4.2% GDP
2
Q
In March 2024 what was the level of national debt (stock of government debt) ?
A
98.3% of GDP
3
Q
How long have income tax bands been frozen for?
A
Frozen until 2029
4
Q
Freezing income tax bands alone is forecast to raise the government how much more money?
A
£45 billion
5
Q
What is the corporation tax rate?
A
25%
6
Q
What is the VAT
A
20%
7
Q
What is the gini coefficient?
A
0.357
