Vocabulary List
Chancellor of Exchequer – канцлер казначейства
Taxation and spending proposals – предложения по налогообложению и расходам
The House of Commons – палата представителей
National insurance contributions – взносы в национальную систему страхования
Task 2. Comprehension questions
How is “the budget” defined in the text?
When is the budget issued and how is it presented in the UK?
What budget was introduced in Great Britain in November 1993?
What does it provide for?
What are the main sources of revenue?
Task 3. Find in the text English equivalents for the following Russian words and phrases:
прогноз доходов и расходов
бюджет представляется (выпускается) в марте
экономические показатели
задачи развития экономики
экономическая политика
намереваться проводить политику
в соответствии с бюджетом
представляет предложения по налогам и расходам
предстоящий финансовый год
объявлять предложения
последние события экономической жизни
излагать бюджетно-налоговую и кредитно-денежную политику
источники доходов
подоходный налог
налоги на расходы
НДС
таможенные пошлины
акцизы
Task 4. Match the infinitives in A with the nouns in B.
A B
to forecast documents
to prepare the budget
to announce revenue and expenditure
to follow plans
to achieve the policy
to present objectives
to publish proposals
Task 5. a). Read the text and translate it into Russian. b). Say what you know about the procedure of adopting the federal budget in Russia.
Russia began the publication of annual budgets in 1860. At present, draft budgets are prepared by the government and are submitted to the State Duma for consideration and approval in autumn.
The draft must pass through 4 readings, during which different amendments are made into the draft. Traditionally, the second reading is the most difficult because it is at the second reading that budgetary expenditures are determined. If the State Duma and the Federation Council approve the draft budget it goes to the President who signs it into law.
Words and word combinations you may need
draft budget – проект бюджета
submit for consideration – представить на рассмотрение
The State Duma – Государственная Дума
approval – одобрение
pass through a reading – пройти чтениеg
make an amendment – внести поправку
determine – определять
approve – одобрять
the Federation Council – Совет Федерации
Task 6. Write words which are frequently used with the word “budget”, compare the list with your partner’s list.
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Text 2. Taxes |
Task 1. a) Read and translate the text. B). Answer the comprehension questions to the text.
Taxes are a compulsory financial contribution by a person or body of persons towards the expenditure of a public authority.
The government has a choice of taxing income, wealth or consumption to finance its expenditure on defence, social services, municipal services etc.
The main forms of direct tax are income tax paid by individuals and corporation tax paid by businesses. Income tax in Great Britain dates from the 1790s and has until recently been the major source to generate tax revenue. Income tax can be progressive, proportional or regressive. The idea of a progressive tax is to take more from those who earn more.
Indirect taxes are imposed on certain products or services that people buy. The main ones are value added tax and excise duties.
Pressure to increase government expenditure may lead to a search of new taxes.
Some people argue for a more direct link between specific taxes and particular items of government expenditure. For example, taxes from motorists could be spent on roads and the transport system while the tax from alcohol and tobacco could be spent in the national health service. But it is impossible for the government to match all individual taxes with particular spending programmes.
The major principles of a tax system are that it should be equitable and reasonable. Then the incentive to avoid and evade tax would be less. The system of tax collection shouldn’t be costly and shouldn’t contain a lot of tax allowances and exemptions.