Our topic today? Grants, subsidies, and stimulus payments. That’s right. Free money! The best money of all!
- Allowance: money that you are given regularly, especially to pay for a particular thing:
- Benefit: an advantage such as medical insurance, life insurance, and sick pay, that employees receive from their employer in addition to money.
- Bursary: an amount of money given to a person by an organization, such as a university, to pay for them to study.
- Grant: an amount of money given especially by the government to a person or organization for a special purpose:
- Subsidy: money given as part of the cost of something, to help or encourage it to happen.
- Stimulus payment: A payment usually made by a government to stimulate the economy by providing consumers with some spending money.
Now listen to me as I give some examples of this vocabulary.
Allowance: Some of the job benefits include a company pension and a generous travel allowance.
Benefits: In addition to my salary, I get a pension and medical benefits.
Grant: The scientist at the university received a research grant to help fund her investigation.
Subsidy: In the United States, the government subsidizes agriculture through cash payments and essentially non-repayable loans to farmers.
Stimulus payment: During the pandemic, some governments gave stimulus payments to their citizens in order to boost consumption and provide business for retailers and manufacturers.
That is all for today. If you enjoyed this lesson, check out our lesson on Universal Basic Income (UBI), and improve your English financial vocabulary. The “English for Economists” podcast is new, so this is a good time to share it with your friends and colleagues. Also, if you have any suggestions or comments, write to me at email@example.com. I would very much enjoy hearing from you. So, until next time, this is Alan Robert at English for Economists, wishing you a fantastic day. Take care!