Starter quiz
- Which organisations help the UK manage risks through international cooperation?
- local councils
- sports clubs
- the G20 ✓
-
- Financial oversight, including FCA investigations, ensures __________ follow regulations and protects the economy.
- the Government
- businesses ✓
- citizens
-
- Match the words to the correct definition.
- risk⇔the chance of something going wrong ✓
- tax⇔the charges imposed by the Government on its citizens ✓
- risk management⇔handling threats to an organisation's capital and earnings ✓
- What must the Government work hard to manage in every area of life to keep the economy stable and balanced?
- risks ✓
- holidays
- social events
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- Which does not strengthen national risk management?
- increasing taxes ✓
- public health planning
- cybersecurity laws
-
- Risk management strategies strengthen economic resilience, protect jobs and ensure long-term ______.
- 'stability' ✓
Exit quiz
- What does borrowing not support during crises?
- public spending
- importing luxury goods ✓
- infrastructure
- economic stability
-
- What protects borrowers from unfair lending and high interest debt traps?
- government regulations ✓
- private companies
- international agreements
-
- Match the word to the correct definition.
- debt⇔amount of money owed by an individual or organisation to a lender ✓
- borrower⇔person/business/government that takes money from a lender ✓
- borrowing⇔receiving money from a lender with the agreement to repay it later ✓
- Excessive borrowing can limit future investment and create financial ______.
- 'risks' ✓
- What can excessive borrowing lead to?
- lower debt and interest payments
- higher debt and interest payments ✓
- no change in debt levels
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- The UK Government borrows when tax __________ is insufficient to fund essential services.
- agreement
- contribution
- revenue ✓
-
Worksheet
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Lesson Details
Key learning points
- The UK Government borrows when tax revenue is insufficient to fund essential services.
- Borrowing supports public spending, infrastructure and economic stability during crises.
- Excessive borrowing can limit future investment and create financial risks.
- Government regulations protect borrowers from unfair lending and high interest debt traps.
- Responsible borrowing and awareness of financial protections help individuals and the economy stay secure.
Common misconception
The Government can borrow unlimited money without consequences.
While the Government can borrow to fund services and support the economy, excessive borrowing leads to higher debt and interest payments, which can limit future spending and create financial risks.
Keywords
Borrowing - the act of receiving money from a lender with the agreement to repay it later, usually with interest
Borrower - a person, business or government that takes money from a lender and agrees to repay it under specified terms
Debt - an amount of money owed by an individual or organisation to a lender
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