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Economy Of Scotland
The economy of Scotland is an Open economy, open mixed economy, mainly services based, which is the Economy of the United Kingdom#Economy by country, second largest economy amongst the countries of the United Kingdom. It had an estimated nominal gross domestic product (GDP) of £218.0 billion in 2023, including oil and gas extraction in the United Kingdom Continental Shelf, country's continental shelf region. Since the Acts of Union 1707, Scotland's economy has been closely aligned with the economy of the rest of the United Kingdom (UK), and England has historically been its main trading partner. Scotland conducts the majority of its trade within the UK: in 2017, Scotland's exports totalled £81.4 billion, of which £48.9 billion (60%) was within the UK, £14.9 billion with the European Union (EU), and £17.6 billion with other parts of the world. Scotland's imports meanwhile totalled £94.4 billion including intra-UK trade leaving Scotland with a trade deficit of £10.4 billion i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edinburgh
Edinburgh is the capital city of Scotland and one of its 32 Council areas of Scotland, council areas. The city is located in southeast Scotland and is bounded to the north by the Firth of Forth and to the south by the Pentland Hills. Edinburgh had a population of in , making it the List of towns and cities in Scotland by population, second-most populous city in Scotland and the List of cities in the United Kingdom, seventh-most populous in the United Kingdom. The Functional urban area, wider metropolitan area had a population of 912,490 in the same year. Recognised as the capital of Scotland since at least the 15th century, Edinburgh is the seat of the Scottish Government, the Scottish Parliament, the Courts of Scotland, highest courts in Scotland, and the Palace of Holyroodhouse, the official residence of the Monarchy of the United Kingdom, British monarch in Scotland. It is also the annual venue of the General Assembly of the Church of Scotland. The city has long been a cent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Whisky
Whisky or whiskey is a type of liquor made from Fermentation in food processing, fermented grain mashing, mash. Various grains (which may be Malting, malted) are used for different varieties, including barley, Maize, corn, rye, and wheat. Whisky is typically Aging (food), aged in wooden casks, commonly of charred white oak. Uncharred white oak casks previously used for the aging of Port wine, port, rum or sherry may be employed during storage to impart a unique flavor and color. Whisky is a strictly regulated Alcoholic spirit, spirit worldwide with many classes and types. The typical unifying characteristics of the different classes and types are the fermentation of grains, distillation, and aging in Barrel, wooden barrels. Etymology The word ''whisky'' (or ''whiskey'') is an anglicisation of the Classical Gaelic word (or ) meaning "water" (now written as in Modern Irish, and in Scottish Gaelic). This Gaelic word shares its ultimate Indo-European_vocabulary#Natural_features, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Policy Committee (United Kingdom)
The Monetary Policy Committee (MPC) is a committee of the Bank of England, which meets for three and a half days, eight times a year, to decide the official interest rate in the United Kingdom (the Bank of England Base Rate). It is also responsible for directing other aspects of the government's monetary policy framework, such as quantitative easing and forward guidance. The Committee comprises nine members, including the Governor of the Bank of England, and is responsible primarily for keeping the Consumer Price Index (CPI) measure of inflation close to a target set by the government, currently 2% per year (as of 2019). Its secondary aim – to support growth and employment – was reinforced in March 2013. Announced on 6 May 1997, only five days after that year's General Election, and officially given operational responsibility for setting interest rates in the Bank of England Act 1998, the committee was designed to be independent of political interference and thus to add ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Many central banks also have supervisory or regulatory powers to ensure the stability of commercial banks in their jurisdiction, to prevent bank runs, and, in some cases, to enforce policies on financial consumer protection, and against bank fraud, money laundering, or terrorism financing. Central banks play a crucial role in macroeconomic forecasting, which is essential for guiding monetary policy decisions, especially during times of economic turbulence. Central banks in most developed nations are usually set up to be institutionally independent from political interference, even though governments typically have governance rights over them, legislative bodies exercise scrutiny, and central banks frequently do show resp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the Kingdom of England, English Government's banker and debt manager, and still one of the bankers for the government of the United Kingdom, it is the world's second oldest central bank. The bank was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. In 1998 it became an independent public organisation, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. In the 21st century the bank took on increased responsibility for maintaining and monitoring financial stability in the UK, and it increasingly functions as a statutory Financial regulation, regulator. The bank's headquarters have been in London's main financial di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chancellor Of The Exchequer
The chancellor of the exchequer, often abbreviated to chancellor, is a senior minister of the Crown within the Government of the United Kingdom, and the head of HM Treasury, His Majesty's Treasury. As one of the four Great Offices of State, the chancellor is a high-ranking member of the British Cabinet. Responsible for all economic and financial matters, the role is equivalent to that of a finance minister in other countries. The chancellor is now always second lord of the Treasury as one of at least six Lords Commissioners of the Treasury, lords commissioners of the Treasury, responsible for executing the office of the Treasurer of the Exchequer the others are the prime minister and Commons government whips. In the 18th and early 19th centuries, it was common for the prime minister also to serve as Chancellor of the Exchequer if he sat in the Commons; the last Chancellor who was simultaneously prime minister and Chancellor of the Exchequer was Stanley Baldwin in 1923. Formerl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cabinet Secretary For Finance And Local Government
The Cabinet Secretary for Finance and Local Government (), commonly referred to as the Finance Secretary, is a member of the List of Scottish Governments, Cabinet in the Scottish Government. The Cabinet Secretary has Ministerial responsibility for the Scottish Government's Scottish Executive Finance Directorates, Finance Directorates. The post has been held by Shona Robison since March 2023, as Cabinet Secretary for Finance until 8 May 2024 when Local Government was added to her brief. Robison was additionally Deputy First Minister of Scotland from March 2023 to May 2024. The Cabinet Secretary is supported by the Minister for Public Finance, since May 2024 Ivan McKee. Text was copied from this source, which is available under a Open Government Licence v3.0 © Crown copyright. History Following devolution in 1999, the Dewar government, Government of First Minister Donald Dewar instituted the position as the Minister for Finance, which was renamed the Minister for Finance and Loc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HM Treasury
His Majesty's Treasury (HM Treasury or HMT), and informally referred to as the Treasury, is the Government of the United Kingdom’s economic and finance ministry. The Treasury is responsible for public spending, financial services policy, Tax system, taxation, Infrastructure, state infrastructure, and economic growth. It is led by the Chancellor of the Exchequer, chancellor of the exchequer, currently Rachel Reeves since 5 July 2024. The Treasury's main offices are located in London and Darlington, with additional offices in Edinburgh and Norwich. It is one of the smallest government departments in terms of staff numbers, but widely considered the most powerful. History The origins of the Treasury of England have been traced by some to an individual known as Henry the Treasurer, a servant to King William the Conqueror. This claim is based on an entry in the Domesday Book showing the individual Henry "the treasurer" as a landowner in Winchester, where the royal treasure was sto ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of The United Kingdom
His Majesty's Government, abbreviated to HM Government or otherwise UK Government, is the central government, central executive authority of the United Kingdom of Great Britain and Northern Ireland.Overview of the UK system of government : Directgov – Government, citizens and rights Archived direct.gov.uk webpage. Retrieved on 29 August 2014. The government is led by the Prime Minister of the United Kingdom, prime minister (Keir Starmer since 5 July 2024) who appoints all the other British Government frontbench, ministers. The country has had a Labour Party (UK), Labour government since 2024 United Kingdom general election, 2024. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scottish Government
The Scottish Government (, ) is the executive arm of the devolved government of Scotland. It was formed in 1999 as the Scottish Executive following the 1997 referendum on Scottish devolution, and is headquartered at St Andrew's House in the capital city, Edinburgh. It has been described as one of the most powerful devolved governments globally, with full legislative control over a number of areas, including education, healthcare, justice and the legal system, rural affairs, housing, the crown estate, the environment, emergency services, equal opportunities, public transport, and tax, amongst others. Ministers are appointed by the first minister with the approval of the Scottish Parliament and the monarch from among the members of the Parliament. The Scotland Act 1998 makes provision for ministers and junior ministers, referred to by the current administration as Cabinet secretaries and ministers, in addition to two law officers: the lord advocate and the solicito ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tertiary Sector Of The Economy
The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors in the three-sector model (also known as the economic cycle). The others are the primary sector (raw materials) and the secondary sector (manufacturing). The tertiary sector consists of the provision of Service (economics), services instead of Product (business), end products. Services (also known as "Intangible good, intangible goods") include attention, advice, access, experience and affective labour. The tertiary sector involves the provision of services to other businesses as well as to final consumers. Services may involve the transport, distribution (economics), distribution and sale of goods from a producer to a consumer, as may happen in wholesaler, wholesaling and retailer, retailing, pest control or financial services. The goods may be transformed in the process of providing the service, as happens in the restaurant industry. However, the focus is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Management
Investment management (sometimes referred to more generally as financial asset management) is the professional asset management of various Security (finance), securities, including shareholdings, Bond (finance), bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institutions, such as insurance companies, pension funds, corporations, charities, educational establishments, or private investors, either directly via investment contract, contracts/mandates or via collective investment schemes like mutual funds, exchange-traded funds, or REIT, Real estate investment trusts. The term ''investment management'' is often used to refer to the management of investment funds, most often specializing in private equity, private and public equity, real assets, alternative assets, and/or bonds. The more generic term ''asset management'' may refer to management of assets not necessarily primarily held for investment purpos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
