Taxation is the most significant way in which a government receives its income. Last year, the UK government raised around £1,017 billion in tax revenue, accounting for approximately 40% of GDP. A similar trend is seen within governments worldwide, with tax revenue being the primary source of government income. Governments tend to rely so heavily on tax revenue, but it is necessary to consider other … Continue reading Can we solely rely on printed money?
Inflation, a persistent rise in the general level of prices, poses significant challenges to an economy. Controlling inflation is crucial for maintaining economic stability and safeguarding consumers’ purchasing power. High and persistent inflation has been a significant global issue over the past 18 months, with global inflation reaching 9.3% in October 2022. The UK, however, has been hit especially hard by inflation, with price increases … Continue reading How can we control inflation?
The world’s population surpassed 8 billion in November 2022. India and China are currently the two most populous countries, with 1.408 billion and 1.412 billion citizens, respectively. In April 2023, India is expected to overtake China to become the most populated country in the world. This rapid population growth will, no doubt, have numerous impacts on India and the rest of the world, but will … Continue reading India’s rapid population rise: A blessing or a curse?
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