Economics class: Millions of UK families could face cuts to value of their benefits next year
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
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Specification:
Inflation, fiscal policy, economic growth, unemployment
Click to read the article below and then answer the questions:
Millions of UK families could face cuts to value of their benefits next year
Define inflation
Distinguish between i) CPI; ii) CPIH; and iii) RPI
Explain what is meant by “squeezing benefits in real terms would hit working families”
Identify the benefits and tax credits which are being replaced by universal credit
Identify the universal credit standard allowance for a single person aged 25 or over
Explain the triple lock on state pensions
Identify the two child benefit rates
With reference to this article, identify the forecasted figure for this year’s budget deficit
The article refers to the UK’s “horrible fiscal bind”. Analyse the causes of “a protracted period of high taxes and tight spending”
Evaluate whether high taxes and tight spending are likely to increase unemployment
Gavin Clarke, Emmanuel College
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