The amount by which expenditure is more than receipts in a firm’s or country’s accounts. (The company announced a two million pound .................................................... .)

A tax on money earned as wages or salary. (She pays .................................................... at the lowest rate.)

A system where one person or company supplies all of a product in one area without any competition. (The state has a .................................................... of the tobacco trade.)

The difference in value between a country’s imports and exports. (The government is trying to reduce the .................................................... deficit.)

The amount which a firm, machine or person produces. (The factory has doubled its .................................................... in the last six months.)

Industries involved in the production of raw materials. (Coal mining is an important .................................................... .)

The action of imposing taxes. (Money raised by .................................................... pays for all government services.)

A tax imposed as a percentage of the invoice value of goods or services. An indirect tax. ( .................................................... in Britain currently runs at 20 per cent.)

The percentage charged for borrowing money. (The Bank of England has raised .................................................... .)

Lack of work. (The figures for .................................................... are rising.)

Industries involved in the manufacture of goods. ( .................................................... rely on the ready supply of raw materials.)

Installing machinery in place of workers ( .................................................... can be a mixed blessing – machines usually tend to be out of order when you need them most.)

Industries which do not make products but offer a service such as banking, insurance and transport. ( .................................................... have become more important in the last decade.)