Each year, schools across the UK are given a chance to enter a team for a national competition that will help them to learn more about economics, develop their writing, research, and analytical skills, and give them a better understanding of the policy issues and challenges facing national decision makers.
Each school can enter one team of up to a maximum of four people in the competition. Teams put together a submission that will outline a budget with taxation and spending policy for the United Kingdom in the coming financial year, as well as more briefly analysing the macroeconomic conditions and setting out a broad policy and strategy in response to these.
Watch this space for information on how to enter next year’s competition!
The 2021 Challenge
The IEA is delighted to announce the results of the 2021 Budget Challenge. Team d’Overbroeck’s won the challenge, with Lingfield College, Thornleigh School, and Queen’s Gate School as runners-up.
The IEA’s Education, Outreach, and Programmes Manager, Brittany Davis, said:
“Due to the COVID-19 pandemic, the Budget Challenge had to be held virtually again this year, which added an extra challenge to the finalists. The content of all of the submissions was carefully thought-out and thought provoking. It is good to see serious engagement with issues of public policy by applying their economics studies to national political issues. A massive congratulations to d’Overbroeck’s and all of the teams who made it to the final for their hard work.”
The Budget Challenge is a joint competition between the Institute of Economic Affairs and the Vinson Centre for the Public Understanding of Economics and Entrepreneurship at the University of Buckingham.