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Economic Picture Of Great Britain 2003 This Is An Economic Report On The United Kingdom Going Into Details Using Current 2002 Stats.

3354 words - 13 pages

Table of Contents:PageLegal Report:Laws on investment/ export/ intentional business4Foreign ownership4Trade organizations:5Human Rights in the Work Force6Economic Report:Type of Tax System:9Stock Market9GDP10Currency:10Natural economic resources11Trade sectors and distribution channels11Stability of currency 13GDP/capita13GDP Growth14GDP by sector14Inflation Rate15Importing partners and Products16Exporting Partners and producers16Income distributing17Workforce Composition18Stability of economy18Unemployment Rate18Employment Rate19Participation Rate19Labour Force by Occupation/sector20Trade barriers20Works Cited:21Bibliography:22Laws on investment/ export/ international businessInvestment business is controlled by the Financial Services Act 1986 and related legislation, including the Insurance Companies' Act 1982 and the BankingAct 1997. These acts protect investors from fraud and restrict investment advertising as well as regulating investments from non EU citizens. The organization is called the FIR.Exporting is highly encouraged in the UK because it is the main source of income for almost all citizens. Import Duty is usually percentage based. It averages at between about 5% and 9% - but with extremes in some cases between nil and 85%.Certain categories of goods may require an export licence from the Department of Trade and Industry. The main purpose of export control is to prevent the proliferation of nuclear, chemical and biological weapons and missile delivery systems.Foreign Ownership:The graph below indicates how much the UK owns abroad. When you look at the GDP which is $1.47 trillion USD and the GDP/Capita which is $24,700 USD you can see that the UK has a high standard of living. Foreign ownership also leads to an increase in foreign money added to the United Kingdom's GDP. This is largely in part to colonisation. For example, in Canada the United Kingdom operates over 1 billion dollars worth of industries and services including Reebok, Marks and Spencer, Dandridge and Cowman financial group and others institutions.Currently all European Union countries must abide by the Treaty of Nice which allows foreign ownership in any other EU country. It is often argued that this hurts workers in the local country simply because jobs are moved abroad. Contrary to that view, businessmen often argue that this benefit local workers as there is expansion in the countries economy.Trade organizations:The United Kingdom relies on its high export and is a member of all of the following international organizations:AfDB, AsDB, Australia Group, BIS, C, CCC, CDB, CE, CERN, EAPC, EBRD, ECA (associate), ECE, ECLAC, EIB, ESA, ESCAP, EU, FAO, G- 5, G- 7, G- 8, G-10, IADB, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, IOM, ISO, ITU, MONUC, NAM (guest), NATO, NEA, NSG, OAS (observer), OECD, OPCW, OSCE, PCA, SPC, UN, UN Security Council, UNAMSIL, UNCTAD, UNESCO, UNFICYP, UNHCR, UNIDO, UNIKOM, UNMIBH, UNMIK,...

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