Economics The Government and the Personal Lifecycle
- Created by: Beswick26
- Created on: 03-12-15 11:31
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- The Government and the Personal Lifecycle
- Adolescence
- Student loans
- Education maintenance allowance
- £10-£30 to encourage pupils from poorer families to continue their education
- Working age people
- Tax credits
- A state benefit paid to employees through the tax system, which acts like a negative tax
- Jobseeker's Allowance
- A benefit paid to people unemployed and looking for work
- Tax credits
- Old Age People
- Old age pension
- Paid to people over 65 who have paid sufficient national insurance contributions
- Winter fuel allowance
- Old age pension
- How they fund it - taxes
- Income tax (PAYE)
- Basic rate is 20% but can increase to 40%
- Personal tax allowance - certain amount before tax
- National Insurance Tax
- Income tax (PAYE)
- Adolescence
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