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3.5 Fiscal policy

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Question 29

The table shows selected items from a government's accounts for one financial year.

ItemAmount (£bn)
Income tax310
VAT170
Corporation tax90
Fees and charges, such as passport fees15
Spending on schools65
Benefits paid to households140
Government borrowing75

Calculate the government's total revenue from the items shown.

[2]
Markscheme

3.5 Fiscal policy Questions

  1. GCSE
  2. /Economics
  3. /3.5 Fiscal policy

76 exam-style questions on OCR GCSE Economics 3.5 Fiscal policy, covering 3.5.1 Government spending and revenue, 3.5.2 Budget balance, surplus and deficit, 3.5.3 What is fiscal policy, 3.5.4 Calculate effects of taxes and spending, 3.5.5 Analyse effects of taxes and spending, 3.5.6 Costs and benefits of fiscal policy, and 3.5.7 Redistributing income and wealth. Each one has a worked solution and a mark scheme showing where the marks go.

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