Personal finance and economic citizenship
Lesson details
Learning outcome
I can explain how taxation and public spending affects me.
Key learning points
- Money gained through taxation is used by the government (public spending).
- Taxation and public spending affects me and others.
- Personal finances and public spending can be affected positively and negatively by the UK and global economy.
Keywords
Income Tax - Income Tax is tax that you pay on your income.
Common misconception
If people pay different amounts of tax then not everyone contributes the same.
Although the amounts will differ, the proportion of the amount taxed will be the same.
Teacher tip
Task B would be best suited for when pupils will have access to technology so that they can research what was happening (both in the UK and globally) between 2005 and 2024. This task could be set as an independent project where pupils present their findings in class.
Content guidance
Depiction or discussion of sensitive content
Supervision
Adult supervision recommended
Licence
Lesson video
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Prior knowledge starter quiz
6 Questions
Q1.Below is a pie chart showing 360 people's preferred colour. 20% voted for orange. How many people is that?
Q2.Below is a pie chart showing 360 people's preferred colour. 8% voted for dark green. How many people is that?
Q3.Below is a pie chart showing 210 people's preferred colour. 7% voted for purple. How many people is that?
Q4.Below is a pie chart showing people's preferred colour. 28 people (7%) voted for purple. In total, how many people were asked?
Q5.Below is a pie chart showing people's preferred colour. 28 people (5%) voted for light green. In total, how many people were asked?
Q6.Below is a pie chart showing people's preferred colour. 30 people (7%) voted for purple. In total, how many people were asked?
Assessment exit quiz
6 Questions
Q1.£4516 is collected in tax. 5% of this money is spent on defence. How much money is that?
Q2.£4516 is collected in tax. 4% of this money is spent on public order and safety. How much money is that?
Q3.£4516 is collected in tax. 9% of this money is spent on culture and the environment. How much money is that?
Q4.£10 577 is collected in tax. 12% of this money is spent on education. How much money is that?
Q5.£10 577 is collected in tax. 4% of this money is spent on transport. How much money is that?
Q6.£10 577 is collected in tax. 7% of this money is spent on national debt interest. How much money is that?
To help you plan your 11 financial education lesson on: Personal finance and economic citizenship, download all teaching resources for free and adapt to suit your pupils' needs...
To help you plan your 11 financial education lesson on: Personal finance and economic citizenship, download all teaching resources for free and adapt to suit your pupils' needs.
The starter quiz will activate and check your pupils' prior knowledge, with versions available both with and without answers in PDF format.
We use learning cycles to break down learning into key concepts or ideas linked to the learning outcome. Each learning cycle features explanations with checks for understanding and practice tasks with feedback. All of this is found in our slide decks, ready for you to download and edit. The practice tasks are also available as printable worksheets and some lessons have additional materials with extra material you might need for teaching the lesson.
The assessment exit quiz will test your pupils' understanding of the key learning points.
Our video is a tool for planning, showing how other teachers might teach the lesson, offering helpful tips, modelled explanations and inspiration for your own delivery in the classroom. Plus, you can set it as homework or revision for pupils and keep their learning on track by sharing an online pupil version of this lesson.
Explore more key stage 4 financial education lessons from the Salaries and long term financial planning unit, dive into the full secondary financial education curriculum, or learn more about lesson planning.