Secondary Business News Quiz - 29/03/2012

From a so called 'pasty tax', to cuts in child benefit, the budget this year has created a lot of media speculation. In addition the Royal Mail has started a panic buying culture of stamps!! Test your students knowledge of what is happening with this weeks quiz.

Download the Word version (with answers and weblinks) here.

1. In the budget tobacco duty rates are to go up by 2% above inflation, what level is the current level of inflation?
   3.4% ( )
   3.6% ( )
   3.8% ( )
   4.0% ( )
   
   
2. The personal allowance – i.e. the amount you earn before you pay tax is rising to what level in April 2012?
   £9,505 ( )
   £8,105 ( )
   £11,505 ( )
   £10,205 ( )
   
   
3. Corporation tax – the tax paid by businesses on profit- is to be cut by how much next month?
   1% ( )  
   5% ( )
   2% ( )
   3% ( )
   
   
4. There will be an extra how many apprenticeships for young people out of work?
   40,000 ( )
   50, 000 ( )  
   60, 000 ( )
   70,000 ( )
   
   
5. The decision to add VAT to the price of all food sold at "above ambient temperature" i.e heated up- had been dubbed what in the media?
   'Pizza tax' ( )
   'Panini tax' ( )          
   'Take-away tax' ( )      
   'Pasty tax' ( )
   
   
6. Forecast economic growth for 2013 is what level?
   1% ( )
   2% ( )
   3% ( )
   4% ( )
   
   
7. The price of a pint will rise by how much in April?
   5p ( )
   10p ( )
   15p ( )
   20p ( )
   
   
8. Child benefit is to be reduced and anyone earning more than what level will lose the benefit completely?
   £55, 000 ( )
   £40, 000 ( )
   £60,000 ( )
   £45, 000 ( )
   
   
9. OBR forecasts unemployment to peak this year at what level this year before falling to 6.3% by 2016-17?
   9.5% ( )
   9.1% ( )  
   8.7% ( )
   10% ( )
   
   
10. A final question not in the budget…. But very much in the media this week –
    The postal service announced that the price of a first-class stamp will rise from 46 pence to 60 pence next month. Second-class stamps will rise from 36 pence to what price?
    45p ( )
    50p ( )
    55p ( )
    40p ( ) 

Donna Jestin

Teacher of Business Studies Notre Dame College & Senior Examiner for AQA