1.
(continued)
(
d
)
Apart from a bank loan, suggest
2
methods of raising finance available to
Gusto plc to construct the wind farm.
1
2

2.
Study the chart below and answer the questions which follow.
(
a
)
Calculate the percentage of tax revenue from direct taxation.
Answer
%
Show your working here.
(
b
)
Name
one
source of UK Government revenue that could be included
under the heading Others.
2012 €“ UK Government Revenue (£billion)
600
550
500
450
400
350
300
250
200
150
100
50
0
Incom
e
Tax
Nationa
l
Insuranc
e
Cor
poration
Tax
VA
TE
x
cise
Duty
Petrol
Rev
enue
Tax
Othe
rs
Billion
(£)
Category
2.
(continued)
(
c
)
(i)
Name
one
item
on which VAT is
not
charged by the UK
Government.
(ii)
Using your answer to (
c
)(i) state
one
reason why the UK
Government does not charge VAT on this item.
(
d
) A UK politician has commented We need to make our tax system less
regressive.
(i)
What is meant by less regressive?
(ii)
Suggest
2
ways the UK Government could make the tax system
less regressive.
1
2
(iii)
Choose
one
of the ways suggested in (
d
)(ii) and describe how it
would be expected to work.