With Budget 2010 just around the corner the Citizenship Foundation, in partnership with Aviva, has launched the ‘Chance to be Chancellor’ 2010 to challenge young people (14-19) to take on the role of the Chancellor and deliver their vision for the future of the economy.
‘Being the Chancellor is a challenging and exciting job and this competition is a fantastic way for young people to have the opportunity to try it out for themselves. It is a great chance to understand the challenges we face and consider the big choices that we have to make for the country.'
Chancellor of the Exchequer, Rt Hon Alistair Darling MP
‘Chance to be Chancellor is a great vehicle for teaching about fiscal policy and the role of government. The materials provided are ideal for engaging students with the difficult choices and trade-offs faced by a government, particularly in the midst of a recession.’
Penny Brooks, Teacher, City of London Freemen’s School
Below outlines:
- How it works
- How to enter
- Prizes
- What the experts say
How it works
As Chancellor, competition entrants will need to look at the main areas of concern for the government. Each of these areas has a number of different ideas (or policies) to improve life in the UK. Entrants will decide which policies should be prioritised and given money from their overall budget. Each idea has been allocated points, based on how expensive it would be to carry out – and they only have twenty points to spend, so remember you can’t choose them all!
If they feel that something is missing from the Budget, and have their own ideas for public spending, students have the chance to produce their own policy and price it between 1 to 4 points.
As Chancellor it is their job to spend the country’s money wisely and justify their choices to the nation with a Budget speech between 500-1000 words.
What the judges will be looking for…
Use the maximum 20 points across a good balance of policies throughout the economy.
Policy choices that represent as many people in the country as possible.
Good use of grammar & spelling within the 500-1000 word Budget speech.
Convincing reasons for the decisions made including why they are the most just, fair, etc.
A vision for the country and society.
And if submitting a policy of your own….
The policy has to be an original idea for public spending.
Submitted policies should be relevant to the other policies set out in ‘Chancellors’ Choices’ and to the current challenges in the economy.
The policy must fit with the vision that has guided the other policy choices and it must be justified in the Budget speech.
Policy submissions should be accurately priced between 1 and 4 points. The points allocated to the policy should reflect the size and scale of the investment in public funding – the other ‘Chancellors' Choices’ should act as a guide.
How to enter
Register or login to access using the 'Apply Now' button at the top and bottom of the page to access the competition pack and teaching resources which include both the 'Budget, Economy & Government' teaching resource & the 'Chancellor's Choices' list of policies.
'Budget, Economy & Government' is an educational resource which includes an explanation of the Budget, as well as special information about the recession, raising taxes and cutting public spending. This unit can be delivered as a whole class lesson, or with small groups as part of an active learning lesson.
'Chancellors' Choices' provides the list of economic policies from which the students must choose. Students can then write their Budget speech in a Citizenship, PSHE, or other appropriate lesson, or as homework.
In addition to the resource pack there are also other resources available in the teachers' resources section of this website.
Entries can be submitted online or by downloading and posting a postal entry form also linked in the resource section. The deadline for all entries is Friday 26th February 2010.
Prizes
Short-listed entries will be judged by Grainne Gilmore, Economics Correspondent at The Times. The winner will have their Budget speech published in The Times newspaper and, along with nine runners up will receive a prize pack and an invitation to the Chance to be Chancellor awards ceremony. Everyone who enters will receive a certificate.
Daniel Hooker, from Northwood in London, was the winner of Chance to be Chancellor in 2009. The Times coverage of Daniel’s winning entry can be read here and a video interview with Daniel by True Tube here.
What the experts say
Grainne Gilmore, Economics Correspondent of The Times, and one of the Chance to be Chancellor judges, said: “The task for our budding Chancellors is a daunting one this year as the country remains gripped by recession. Prioritising the right areas in which to spend money has never been more difficult as the Government's finances remain precarious and are unlikely to improve any time soon.”
Minister of State for Children, Young People and Families, Rt Hon Beverley Hughes MP said: “The Chance to be Chancellor competition is a fantastic way of teaching financial education in schools. It’s also a great opportunity for students to have their say on what they think should be included in the budget.
I encourage as many students as possible to get involved and submit their thoughts on how to balance the country’s books, which is a particularly difficult challenge in the current economic climate. I wish all entrants the best of luck.”
Rt Hon Dr John Reid MP said: “The competition enables pupils aged 14 to 19 to develop their own budget, identifying their views on priorities for public spending. This competition acts as an important tool for delivering financial and economic education in schools.
It also gives pupils the opportunity to have their say on how to tackle the financial crisis in the UK brought on by the world-wide downturn.”
