Who pays for all of this?
I know that people who work pay taxes to fund services such as the NHS.
Who pays for all of this?
I know that people who work pay taxes to fund services such as the NHS.
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Lesson details
Key learning points
- Taxes on earnings pay for education, the NHS and other things like pensions.
- Some items considered wants rather than needs have VAT added.
- The government sets the level of taxes.
Keywords
Tax - Tax is money that you have to pay to the government so that it can pay for public services. Tax is also often paid on goods and services.
VAT - VAT or Value Added Tax is a tax that is added to the price of some goods and services.
Service - A service is a business whose work involves doing something for customers but not producing goods.
Percentage - A percentage is a part or share of the whole. It is expressed as if it is part of a total that is 100.
Common misconception
This lesson includes discussion of and calculation of percentages which can be a challenge for some children.
Teach the lesson after you've covered percentage in maths. Alternatively, adapt the lesson to remove the aspects of percentage that don't suit.
To help you plan your year 6 financial education lesson on: Who pays for all of this?, download all teaching resources for free and adapt to suit your pupils' needs...
To help you plan your year 6 financial education lesson on: Who pays for all of this?, 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.
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The assessment exit quiz will test your pupils' understanding of the key learning points.
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Explore more key stage 2 financial education lessons from the Budgets and ethical spending unit, dive into the full secondary financial education curriculum, or learn more about lesson planning.
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Adult supervision recommended
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Starter quiz
6 Questions
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