The winners of Challenge the Chancellor 2011 have just been announced by the CIOT. Details below. The CIOT will contact the winning teams shortly with details of the prize-giving.

Level 3 - Winners: Colchester Grammar School - ‘Change is Kneaded’ - the tax on white bread by Tom Fish, Sophie Jarvis, Lewis Barber and George Buckland.

The runner up entry is also from Colchester Grammar School - ‘Growing Government Revenues: A Tax on Fertilisers’ by Owen Chan, Edward Leung, Jason Leung and Nicky Lin.

Level 2 - Winners: St Aidan’s Academy, Darlington. The winning entry is under team name ‘Andrew, Jack and Josh’.

The runner up entry is from Newcastle-under-Lyme School and the team name is ‘Hannah Ralphs, Rebecca Birtles and Christopher Plant’.