SECTION 1 MONEY Managing your money: the influence of the government Mr Tarn GCSE ECONOMICS: UNIT 11

SECTION 1 MONEY Aims of today’s lesson … Identify the ways in which the government influences decisions to spend and save at the different stages of the personal lifecycle

SECTION 1 MONEY Starter Activity…. Look at the types of Government Taxes and Benefits below and identify who is likely to be most affected by them

SECTION 1 MONEY Government Influence & The Personal Lifecycle Through taxation the government will directly influence a person’s income For example, each month the government deducts National Insurance (a direct tax) from a person’s wage Through indirect taxes, duties and benefits the government also influences decisions to spend and save At each stage in the personal lifecycle the government has significant influence over the income, expenditure and saving habits of people

SECTION 1 MONEY Over to you…Group Task In your groups you have been set the task of discovering how the government influences the income, savings and expenditure of people at different stages of their personal lifecycle Focus on Government Taxations and Expenditure Each group has a separate stage in the personal lifecycle to investigate Complete the sheet using the results of your research!

SECTION 1 MONEY Over to you…Carousel Using your group’s research complete the ‘Stage’ in the personal lifecycle on which you have focused using the sheet provided Nominate an ‘Expert’ who will move to the other groups and discuss with them the fruits of their research to help others complete the remaining stages of the lifecycle on their sheets *.!*

SECTION 1 MONEY Mini-plenary… 1.In what ways can the government affect how much we spend/save? 2.How does the government influence what we spend our money on? 3.In what ways does the government provide us financially? 4.At what stage in the personal life cycle does the government have the most influence on?

SECTION 1 MONEY Plenary…think, pair & share! Think Pair Share