• To understand the role of the Chancellor and the Budget;
• To know how the Chancellor manages the economy through setting a Budget and some of the challenges they face.

Chance to be Chancellor curricula references at Key Stage 4

Citizenship:

2.1a; 2.2b, c; 3j; 4a, i.

PSHEE (EWFC):

1.4a; 2.3i; 3g; 4h, k.

What did you think of the Chance to be Chancellor lesson plan? Let us know by leaving a comment below.

First we will collate the choices of all those who take part in the Youth Budget 2012 and publish the results, promoting the next generations opinions on the future of the UK economy.

Secondly, do you think your budget the right one for the country? Make your case for it and you could win Chance to be Chancellor 2012!

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Remember there are no right or wrong policy choices, its your choice that counts.

Got a better idea for a policy? You can submit your own suggestion in each area but you must still choose one of the four to proceed. Ideas will be compiled with the most popular getting published.

Saving your progress
You can save your entry at anytime and come back to continue it later. All entries must be completed by the 20th Feb 2012 (they will be automatically submitted after this date).

Make your case
To enter into our competition you need to justify your policy choices in a speech, document, presentation or video which can be uploaded onto the website. You can upload up to 5 files to make your case.

Here are some of the things judges will be looking for in your case;

• A clear format that is easy to follow;
• A good balance of policy choices;
• A demonstration of critical thinking around the competing claims on the choices you’ve made;
• Good arguments that will support your choices and convince the public of your decisions;
• A case that represents the concerns and interests of a wide variety of people from different backgrounds;
• An overall ‘vision’ of the kind of society you aim to create with your budget and the impacts your policy choices will have;
• Creative use of media.

Clicking enter now you will take you to the brief page which provides an introduction – click ‘get started’ to enter the challenge.

There are seven key public spending areas covered in Chance to be Chancellor 2012:

1. Social Protection covers the financial assistance available to vulnerable individuals including those looking for work, struggling with housing costs and those who cannot work due to illness, disability or old age. The Department of Work and Pensions is the Government department responsible for the social protection budget.
2. Health spending funds the National Health Service and all the services it provides and is the responsibility lies with the Department of Health.
3. Education spending involves the running the country’s education system from building and maintaining schools to paying teachers salaries and university funding.  Find out more by visiting the Department for Education.
4. Taxes Relief & Benefits cover those taxes paid back to citizens on relatively low wages such as working tax credits and to families through child tax credit and child benefit.
5. Defence spending maintains the UK’s Armed Forces and military operations both at home and abroad. Find out more by visiting the Ministry of Defence.
6. Public Order & Safety funds the prevention, detection and reduction of crime and there are two Government departments responsible for this area: the Home Office for police and crime fighting and the Ministry of Justice for the courts and prison system.
7. The environment budget covers the spending required to meet the UK’s environmental objectives and the Department of Energy and Climate Change is the branch of Government responsible for it.

There are three main types of taxation covered in Chance to be Chancellor 2012, including:

1. Work taxes include income tax and national insurance – both are deducted directly from earnings and combined they make up around 40% of all tax the Government collects.
2. Consumer taxes are collected on all goods and services such as VAT and duties on fuel, tobacco and alcohol as well as new proposals such as an ‘unhealthy food’ tax.
3. Business taxes which are charged on the profits of limited companies and to earnings from investments such as bonds and stocks – they include corporation tax and the bank levy.

As the Chancellor what economic decisions would you make? What would your Budget for the country be? Which taxes will you levy on society? Where would you choose to spend the money you’ve raised? Here is your chance to have your say.

Chance to be Chancellor is open to all 14-18 year olds across the UK. Your decisions will form the Youth Budget 2012. For a chance to win our national competition, make your case for them.

Get started

Win an iPad!

The overall winner will get their hands on a state of the art iPad.

You could get into the news

Previous Chance to be Chancellor winners received a great deal of media attention from various news reporting sources including C4, The Times and LBC.

Get invited to the HM Treasury

Each year the Youth Budget results are launched at a special event held at Her Majesty’s Treasury in central London. The winner and runners up receive a special invite to the awards ceremony held at HM Treasury!

Become the face of the Youth Budget

Each year the winner becomes the face of the Youth Budget!