Quick Recap Quiz What are the 4 main government economic objectives?

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Quick Recap Quiz What are the 4 main government economic objectives? How do we measure Economic growth? List two advantages of economic growth for the UK What is the current target for inflation? Who is the Chancellor of the Exchequer? Stable prices, High and sustainable economic growth, a balance of payments (if not a surplus), low unemployment % change in Real GDP per quarter Reduced unemployment; higher standards of living, fiscal dividend; increased capital investment, increased business confidence 2% CPI within a range of 1% George Osborne

The Welfare State and its alternatives GCSE ECONOMICS: UNIT 12 Managing the economy http://www.slideshare.net/tutor2u/buss4-business-cycle-economic-growth The Welfare State and its alternatives

Aims of today’s lesson … To identify what is meant by the welfare state Analyse the costs and benefits of the welfare state Evaluate the alternatives to the welfare state

What is the Welfare State? The welfare state refers to the various forms of benefit payments and services, designed to care for those who need support These benefits are funded by taxation revenue collected by the government The principle is that those who earn higher than average incomes pay a greater proportion of their income as tax than those on below average incomes Some people attempt to avoid paying higher rates of tax –Jimmy Carr! http://www.bbc.co.uk/news/magazine-18537051

A history lesson on the welfare state? Open and complete the key questions on the welfare state http://www.bbc.co.uk/news/magazine-18537051

The Welfare State: You do the cuts! In the face of a huge government deficit the new coalition government was faced with cutting the welfare state (i.e. reducing what was offered and spent) In his spending review George Osborne the Chancellor of the Exchequer was charged with cutting £49 billion from the welfare state budget Using the link look at the ways in which money can be saved from the government budget for the welfare state Talk about the concept of opportunity cost!

The Welfare Reform Apprentice In pairs you must each come up with an idea to reduce the bill for (1)The NHS, (2) Schools, (3) Job Seekers Allowance, (4) State Pensions, (15 mins) You need to justify each decision After sharing the ideas each pairing need to act as George Osborne and decide which group/s get the contract for £50m (5 mins)

The Welfare State: Research Task Produce an informational leaflet which analyses the benefits, costs and possible alternatives to the welfare state in the UK Front cover (1): name, title, brief summary of what the leaflet will include Page 2: A definition/introduction to the welfare state Pages 2/3: The benefits of the welfare state Pages 4/5: The costs/drawbacks of the welfare state Back page: Alternatives to the welfare state (e.g. people may provide welfare for themselves?) I have put some useful resources in the SSA for you to use Use the information you have collected so far such as the video notes http://vimeo.com/31308077

The Welfare State: Research Task In your groups you will research either the costs or the benefits of the welfare state Your research can include the benefits or costs of having an alternative system You will debate and argue your corner – only one group will be triumphant! Produce a set of notes to aid you in your points of view