What I may already know: • Ireland has a mixed economic system. • The government makes decisions that affect our economy. • The government has different types of income and expenditure.
Learning Intentions
In this chapter, I will learn: • The role of the government in the Irish economy. • Sources of government income. • Areas of government expenditure. • Types of government income and expenditure. • How the government records income and expenditure in the national budget.
Key Words: Revenue Taxation Capital
Current
National budget Surplus budget
Deficit budget Balanced budget
WHAT IS THE GOVERNMENT’S ROLE IN THE ECONOMY?
As we learned in chapter 29, Ireland is a mixed economy. This means that the government, along with individuals and organisations, plays an important role in providing services (such as education, transport and housing).