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Poverty ­ Key Terms
Income and Wealth

Global Economy ­ refers to the way in which investment and trading now span the entire world
Inheritance Tax ­ tax on wealth when a person dies
Inland Revenue ­ the government department responsible for taxes on earnings and wealth
Life Cycle ­…

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Household Status ­ used interchangeably with `family status'
Low Pay ­ defined s earning less than half the average male wage
Older People ­ refers to people of pensionable age, currently 60 for women and 65 for men
Risk Groups ­ refers to a way of analysing poverty figures by…

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Selectivism / Targeting ­ the belief that only those with limited resources should receive
welfare services and benefits
Universalism ­ the belief that everyone should be entitled to free welfare services and
benefits
Voluntary ­ independent organisations that provide health or welfare services, but do not seek
to make any…

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