LIBF UNIT 3 TOPIC 2 (VOL 2)

Who is eligible for Carer's Allowance?

• Anyone over 16 who spends 35 hours per week caring for someone

• Parents with children under 5

• Students in full-time education

• People over 65 with a disability

What is Child Benefit?

• Money paid to parents or other people responsible for bringing up a child

• A tax credit for working parents

• A scholarship for children in school

• A loan for parents with children

What are Contributory benefits?

• Benefits paid to eligible claimants who have paid the required NICs

• Benefits for those who have not paid any NICs

• Benefits for students in higher education

• Benefits for people with temporary illnesses

What does Employment and Support Allowance provide?

• Income from the state when sickness or disability prevents work

• A loan for starting a business

• A grant for educational purposes

• A subsidy for housing costs

What is Housing Benefit?

• An older benefit for those with low incomes to help with housing costs

• A grant for first-time home buyers

• A loan for home renovations

• A subsidy for landlords

What is Income Support designed to provide?

• A 'safety net' for those not eligible for other unemployment benefits

• A grant for educational expenses

• A loan for starting a business

• A subsidy for travel expenses

Who is Jobseeker’s Allowance ('new style') for?

• Those of working age not working full time but able to work

• Students looking for part-time jobs

• Retirees seeking additional income

• Parents with young children

What does Life expectancy refer to?

• The number of years people are expected to live based on their birth year

• The average age of retirement

• The age at which people typically start working

• The average age of first marriage

What are Non-contributory benefits?

• Benefits for those who have not paid enough NICs to claim contributory benefits

• Benefits for those who have paid the required NICs

• Benefits for students in higher education

• Benefits for people with temporary illnesses

What is a Recession?

• A period of at least six months with shrinking goods and services production

• A time of rapid economic growth

• A phase of high inflation

• A period of stable economic conditions