Government Revenue and Expenditure Concepts

The video explains how the government earns and spends money. It covers the revenue generated through taxes and details the allocation of funds across various sectors such as agriculture, transport, education, and welfare. The video also discusses government borrowing and the interest payments on loans. It concludes with a note on how future governments may choose to allocate funds differently.

What is the primary source of government revenue?

• Donations

• Loans

• Taxes

• Exports

Which sector receives a portion of the 17 billion fund?

• Education

• Agriculture

• Healthcare

• Defense

How much did the UK spend on its armed forces last year?

• £38 billion

• £25 billion

• £10 billion

• £50 billion

What is included in the 10.3 billion spent on International Development?

• Public transport

• Military equipment

• Overseas aid

• Local infrastructure

Which sector received the second largest government expenditure last year?

• Welfare

• Education

• NHS

• Defense

What was the largest government expenditure last year?

• Welfare

• NHS

• Defense

• Education

How much did the government borrow last year?

• £53 billion

• £84 billion

• £100 billion

• £64 billion

What was the cost of interest payments on loans last year?

• £53 billion

• £84 billion

• £100 billion

• £64 billion

Which sector is not mentioned as a major expenditure in the transcript?

• Technology

• Healthcare

• Welfare

• Education

What can the next government decide regarding spending?

• Privatize public services

• Reduce national debt

• Change spending priorities

• Increase taxes