LINKS COURSE


KEYWORDS


CHAPTER 30 Government Revenue and Government Expenditure


3.4 Differentiate between different sources of government revenue and government expenditure.


The National Budget


Government Expenditure


Deficit Budget


Government Revenue


Current Expenditure


Balanced Budget


Current Revenue


Capital Expenditure


Capital Revenue


Surplus Budget


KEY SKILLS


1. Differentiate between current and capital revenue.


2. Differentiate between current and capital expenditure.


Current Expenditure


CHAPTER 2 L.O.


4 1.2 11 12 24 31 35 1.4 1.11 1.12 2.11 3.5 3.9


Capital Ex- penditure


Surplus Budget


Deficit Budget


3. Explain sources/examples of government revenue other than tax.


4. Explain sources/examples of current and capital government expenditure.


5. Calculate/identify whether a budget is a surplus or deficit.


6. Advise the Minister for Finance on actions to take in the event of a deficit or surplus budget.


INTRODUCTION


When we look at the money earned by an individual or a household, we call it income. For the government, this is called revenue. Ireland’s government collects most of its revenue through taxes.


Corporation Tax collected from the profits of large multinational companies such as Apple, Google and Pfizer has more than doubled between 2021 and 2025, rising from €15.3 billion to €32.9 billion.


If the government plan to take in more revenue than it plans to spend it must decide to either spend it, use it to reduce our national debt, or save it for the future in case it is needed.


CLASS ACTIVITYINTRO ACTIVITY


a) Suggest how the government could use this extra revenue to:


1. Help to improve the homelessness crisis. 2. 3.


Improve our health system.


Increase the number of children playing sports.


4. Make it easier for people to travel without driving petrol or diesel cars.


b) Do you think the government should save some extra money for the future? Why?


c) Why might it be risky if the government depends too heavily on Corporation Tax from foreign companies like Apple and Google?


339


Balanced Budget


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