The National Budget consists of revenue and expenditure. Briefly explain the difference between revenue and expenditure and, excluding education, give an example of each.

Revenue refers to the money that the government collects from various sources, such as taxes, fees, and other income streams. For example, corporate income tax is a substantial component of government revenue, where businesses contribute a portion of their profits to the state. On the flip side, expenditure is the spending by the government on public services, infrastructure, and various programs. An example of expenditure could be healthcare spending, where the government invests in hospitals, public health initiatives, and medical services to ensure the population’s well-being.