Key Facts A Level Microeconomics 2018

  • Created by: amyclaire
  • Created on: 03-06-18 15:20
Tax free allowance
£11850
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20% tax band
£11850- £46300
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40% tax band
£46300-£150000
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45% tax band
Greater than £150000
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Corporation Tax Rate
19%
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VAT
20%
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Gini Coefficient
0.34 (average 0.31)
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Living Wage
£7.83/ hour
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Current gov policies
Cutting corporation tax to 17% by 2020, increase income tax free allowance & 40% tax band to £50000, have increased national living wage annually, universal credit benefit, benefits cap, for every regulation introduced 3 less
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Absolute poverty
Earning less than 1.90 dollars a day
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Relative poverty
60% of median income, approx £15000 or less
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Child poverty
1/4 of children in Torbay
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Wealth distribution
Top 1% have 20% of wealth, top 10% 50% wealth
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Gini coefficient wealth
0.64
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Sugar tax
Drinks with 5-8g sugar per 100ml- 18p per litre or 8g or more- 24p per litre
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Other cards in this set

Card 2

Front

£11850- £46300

Back

20% tax band

Card 3

Front

£46300-£150000

Back

Preview of the back of card 3

Card 4

Front

Greater than £150000

Back

Preview of the back of card 4

Card 5

Front

19%

Back

Preview of the back of card 5
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