Ex. 14 a) Look at the pie chart and scan through the analysis of budget expenditures in the uk. Replace the underlined phrases with other similar expressions.

The pie chart shows the budget of the UK government in 2011. Overall, social security, health, and education were the most important targets.

The biggest segment was social security. Pensions, employment assistance and other benefits made up about 30% of total expenditure. Health was the second highest budget cost. Hospital and medical services accounted for £53 billion, or about 15% of the budget. The government spent about seven percent of revenue on debt, and similar amounts went towards defence (£22 billion) and law and order (£17 billion).

Spending on housing, transport and industry totaled £37 billion. Finally, other expenditure accounted for £23 billion.

In conclusion, the bulk of British government spending goes on social welfare and health. However, education, defence, and law and order are also major areas of spending.

b) Look at the pie chart below and analyse the budget revenues it reflects

с) Analyze the relevant data to find out about budget revenues and expenditures in Ukraine. Compare any changes in both revenues and expenditures over a five year period.

d) If you were the prime minister, how would you spend the budget resources?

Say what you think about supervision over budget execution.

Ex.15. a) Scan through the text about budgeting in the UK. What are the aims pursued by the government in budget preparation? Deliver the summary of the text to the class.

A budget for lasting prosperity

-combining sustained economic growth with low inflation so that living standards go on rising year after year

For helping people keep more of what they earn

-basic rate of income tax reduced to 23p

-inheritance tax threshold increased

For high quality public services spending more on services people care most about

-the health service

-education

-combating crime

For responsible public finances

-maintaining firm control of public spending

-reinforcing the downward path of borrowing

For protecting the ordinary taxpayer

-fighting tax and social security fraud

-closing tax loopholes

-phasing out special reliefs and allowances

The Budget helps people keep more of what they earn

The Government believes in a low tax economy and is committed to a 20p basic rate of income tax.

The Budget takes another step towards this goal and further boosts wage packets by:

-cutting the basic rate of income tax by 1p to 23p, the lowest basic or standard rate for nearly 60 years;

-widening the 20p income tax band by 200 Pounds;

-increasing personal allowances by 200 Pounds more than inflation.

All 26 million taxpayers will pay less income tax because of these changes and over a quarter of all taxpayers now pay tax at only 20 per cent.

So that people can leave more to their families, there will be a further 15,000 Pounds increase (three times more than inflation) in the level where inheritance tax becomes payable.