dynamic state-of-the-art substantial low-key enterprising modest conservative go-ahead high-tech cautious healthy leading edge advanced strong modern
thrusting robust
Forward-looking Technology Asset base Reporting policy companies
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Pick two more companies in one sector. Use their past results (annual reports) to analyze potential future performance.
1. Pre-Listening Task
1.1. How is personal taxation structured in your country?
1.2. Is the trend in the load of personal taxation upwards or downwards?
Listen to the presentation about personal taxation in the UK. As you listen, complete the information in Charts 27 and 28 (referred to in the tapescript as transparencies).
Chart 27
PERSONAL TAXATION
| Rates | |
| Lower rate: up to £23,700: | a. _____________________________ % |
| Higher rate: above £23.700: | b. ____________________________ % |
| Allowances | |
| Single person: | c. £ _____________________________ |
| Married person: | d. £ _____________________________ |
| Pensions: | e. maximum ___________ % of income |
| Mortgage interest relief: | f. _______________________________ |
COLLECTION OF PERSONAL TAXES
| Income tax -system: | g. _______________________________ |
| National Insurance | |
| Employee’s contribution | h. ____________________________ % |
| Employer’s contribution: | i. _____________________________ % |
3.1. How are the two parts of Geoff’s presentation structured?
3.2. What does Geoff suggest the majority think of British tax?
3.3. What new legislation has recently been introduced?
3.4. What do you think the government uses national insurance contributions for?
Presentations
Look at the following extracts from the Listening passage:
«Right, I’ll hand you straight over to Geoff»
«Good afternoon, ladies and gentlemen...»
Now match the expressions with the functions they perform in a presentation (match them under the three headings).
Functions EXPRESSIONS
INTRODUCTION
1. Introducing the subject a. I’ve divided my presentation into two parts
2. Time limits b. I’ll try to answer your questions at the end
3. Giving an outline c. What I’d like to do is talk to you about
4. Place of questions d. I know you’re short of time so I’ll be brief
Functions EXPRESSIONS
MAIN PART
1. Introducing first point a. I’ll come to that later
2. Closing first point b. In other words
3. Referring forwards c. As I mentioned earlier
4. Referring backwards d. That brings me on the next point
5. Digressing e. So, let’s start by considering
6. Movingpoint on to next f. That covers my first point
7. Clarifying g. By the way, you may be interested to know
8. Dealinginterruptions with h. If you don’t mind, I’d prefer to leave that till later
Functions EXPRESSIONS
CONCLUSION
1. Summarising a. Thank you for your attention
2. Concluding b. I’d be delighted to answer your questions
3. Closing c. We can draw the following conclusions
4. Inviting questions d. So, let’s just go over the main points again
Prepare and give a presentation about personal taxation in your country.
1. Pre-listening task
1.1. What are the prime factors which must be taken into account when deciding on the location of a new factory?
1.2. How would you rank these factors in order of importance?
Listen to an extract from a meeting in which the location of a new plant is the issue under discussion. As you listen, complete Chart 29 which is referred to during the meeting as a transparency.
Chart 29
| Communication | Labour force | Plant construction | Manufacturing cost | Tax benefits | |
| Scotland France Germany |
I = best score 2 = medium score 3 = worst score
3.1. What is meant by communications ?
3.2. What are the two aspects of labour force to be considered?
3.3. Why should a manufacturing plant be regarded as a cost rather than a profit centre?
3.4. How could prices be structured internally to take advantage of varying tax rates?
4.1. Questions -softening
Look at the following questions from, the Listening passage:
«Just before you move onto tax, can I ask you about the plant construction?»
«I was wondering whether any of the countries we are considering...»
Make the following direct questions more indirect/softer:
1. What about tax incentives?
2. Do they offer help with investment?
3. Did the tax authorities advise you about transfer prices?
4. How much does the land cost?
5. Have you included the tax weighting in your calculations?
6. What do the rest of you think?
7. Are you thinking of siting the plant in Scotland?
8. Why won’t you consider Germany?
4.2. Clarifying
Look at the following extracts taken from the Listening passage:
«The third factor is the plant construction cost, i. e. the initial investment cost».
«What do you mean» — Well, simply…» Now complete the dialogue below:
A: We’ve been trying hard to avoid double taxation? B: ________ mean?
A: ________ paying tax twice — first in the country of payment and secondly in the country of residence.
B: So, if ________ correctly, you _______ the expatriate workers could have to pay tax here in Saudi and again back in the US. A: That’s _________. We have approached the US tax authorities and it seems there is a double taxation agreement between the two countries but it is time dependent...
B: ___________ slowly?
A: Of course, what I ______ was that it is possible to avoid double taxation but it depends on how long the expatriate works in Saudi. Now, most of our contracted workers are on short contract varying from 60 to 120 days. The US tax authorities are prepared to waive tax after six months.
B: So are you ___ that our guys are going to have to pay tax twice.
A: Yes, but it could be redeemable _______ they could get the tax back later...
Study the expressions used to rank locations:
first scores highest way/slightly ahead on top
second in the middle way/just behind
third scores lowest lagging behind at the bottom
plus: there’s little to choose between to come down in favour of Using the following information, complete the sentences below.
| Literacy | Numeracy | Personality | Experience | |
| Jane | ++ | + | +++ | – |
| Susan | + | ++ | + | + |
| Tessa | +++ | – | ++ | + |
1. Jane __________ highest in terms of __________.
2. She ___________ the others in experience.
3. Susan is _____ Jane in terms of literacy but _____ on numeracy. 4. There’s ______ Susan and Tessa in terms of experience.
5. Tessa comes out _________ in literacy.
Look back at Chart 29. Go over the factors again in discussion. Try to reach a decision based on the information you have available.
1. Pre-Listening Task
1.1. Do you think privatisation of nationalised infrastructure industries (e.g. telecommunications, post, railways) makes good financial and commercial sense?
1.2. What is the policy towards privatisation pursued by your
country’s government?
Listen to the extract from a TV panel discussion about privatisation. As you listen, complete Chart 30.
Chart 30
| Arguments in favour | Arguments against |
| Political Financial Industrial Social |
3.1. How can it be argued that privatisation ties the shareholder to the Tory party?
3.2. Many privatisations are preceded by write-offs of long-term government debts. Do you think this gives the newly privatised companies an unfair competitive advantage?
3.3. Why are civil servants more likely than business people to protect the long-term interest of the nation?
3.4. Peter Smyth admits that British Telecom privatisation was beneficial for some. Whom?
3.5. What type of elector is Peter Smyth representing?
3.6. What does Peter Smyth’s sarcastic remark about BT’s public
relations suggest?
4.1. Presentations — introducing subjects
Look at the following extracts taken from the Listening passage:
«We’re here tonight to discuss the pros and cons...»
«On the political side, we have...»
«On the financial front,...»
«From industrial point of view...»
Now match the subject introduction with the content notes:
| Subject introduction | Content |
| 1. As far as the economy is concerned | a. the ecosystem, pollution, ozone |
| 2. From a social point of view | b. the government in power, opposition |
| 3. Looking at it from a political standpoint | c. profit and loss, depreciation |
| 4. On the financial front | d. trade deficit, GNP |
| 5. On the subject of the environment | e. employment, housing education |
4.2. Relative clauses
Look at the following extract taken from the Listening passage:
«There are those who believe that water, telecommunications and gas, to name but three, have all been successful privatisation issues which have led to major restructuring and financing...» Now combine the following sentences:
1. There are twenty people. They are waiting outside. They have been invited to the show.
2. The government spokesman. He comes from the Finance Ministry. He is going to speak on the programme.
3. Telecommunications was privatised six years ago. It has always been very profitable.
4. The government has followed a policy of privatisation. It was first elected eleven years ago.
5. Peter Smyth is an opposition spokesman on Trade and Industry.
Peter Smyth starts the discussion.
Complete the expressions by matching left and right columns:
| 1. asset | a. prices |
| 2. to set | b. in the hands of |
| 3. popular | c. for improvement |
| 4. selling off | d. but three |
| 5. rock-bottom | e. with the details |
| 6. vested | f. by advertisements |
| 7. to name | g. stripping |
| 8. suffer | h. the nation’s silver |
| 9. to leave | i. success |
| 10. rip-roaring | j. forward |
| 11. bore you | k. the rigours |
| 12. great strides | 1. great store by |
| 13. room | m. capitalism |
| 14. taken in | n. interest 6. Discussion |
Use Chart 30 to discuss the pros and cons of privatization.
A
a shares (n) non-voting shares
absorb (v) to take in a smaller item to form part of a larger whole; we
can absorb the loss of the subsidiary acceptance (n) the act of agreeing to accept a bill of exchange access (n) available entry; access to the market account (n) a record of financial transactions accountancy (n) work of an accountant
accountant (n) person qualified to keep a company’s accounts accounts (n) the financial records of a business; the bank would like to
see the accounts account executive (n) an advertising executive who looks after a particular client accrual (n) gradual increase by addition accruals (n) money owed which is due at a later date accrue (v) to increase and to be due at a later date
acid ratio (n) ratio of current assets minus stock to current liabilities;
used as a measure of solvency acquire (v) to buy; to acquired company
acquisition (n)act of buying: acquisition of a company across-the-board (adj) running an ad for five days
actuary (n) a professional insurance official responsible for estimating
future claims and premiums advance 1. (n) money paid as a loan or part payment 2. (v) to lend money; the bank advanced us £2000 advertise (v) to announce that something is for sale ad (n informal) short for advertisement
advertisement (n) notice or announcement that something is for sale advertiser (n) person or company which advertises
advertising (n) business of announcing that something is for sale; she’s
in advertising age group (n) category by which target consumers are classified
according to age; the product appeals to the 25—35 age group agent (n) a person authorized to carry out transactions on behalf of
another person
A1DA Attention, Interest, Desire, Action air time (n) time given to advertising on TV or radio