|
Office For Budget Responsibility
The Office for Budget Responsibility (OBR) is a non-departmental public body funded by the HM Treasury, UK Treasury that provides independent Economic forecasting, economic forecasts and independent analysis of the public finances. It was formally created in May 2010 following the 2010 United Kingdom general election, general election and was placed on a statutory footing in 2011. It is one of a growing number of official independent Fiscal council, fiscal watchdogs around the world. Richard Hughes, former Director of Fiscal Policy at HM Treasury, has been head since October 2020. Functions The OBR examines and reports on the sustainability of the public finances and provides analysis and forecasts on the economy at the time of the UK Government's Budget Day, Budget and Spring Statements. The functions and responsibilities of the OBR are contained within the 2011 Act. It has four main duties: Forecasts of the economy and public finances The OBR produces five-year forecasts fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The UK includes the island of Great Britain, the north-eastern part of the island of Ireland, and most of List of islands of the United Kingdom, the smaller islands within the British Isles, covering . Northern Ireland shares Republic of Ireland–United Kingdom border, a land border with the Republic of Ireland; otherwise, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. It maintains sovereignty over the British Overseas Territories, which are located across various oceans and seas globally. The UK had an estimated population of over 68.2 million people in 2023. The capital and largest city of both England and the UK is London. The cities o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Sustainability
Fiscal sustainability, or public finance sustainability, is the ability of a government to sustain its current spending, tax and other policies in the long run without threatening government solvency or defaulting on some of its liabilities or promised expenditures. There is no consensus among economists on a precise operational definition for fiscal sustainability, rather different studies use their own, often similar, definitions. However, the European Commission defines public finance sustainability as: the ability of a government to sustain its current spending, tax and other policies in the long run without threatening the government's solvency or without defaulting on some of the government's liabilities or promised expenditures. Many countries and research institutes have published reports which assess the sustainability of fiscal policies based on long-run projections of country's public finances (see for example, [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Gieve
Sir Edward John Watson Gieve, (born 20 February 1950) is a British former civil servant, who served as Deputy Governor for Financial Stability of the Bank of England and an ''ex officio'' member of the Monetary Policy Committee from 2006 to 2009. Permanent Secretary at the Home Office Gieve served as Permanent Under-Secretary of State at the Home Office from 2001 to 2005. At the time, the Home Office was the government department responsible for law and order, including prisons and probation, policing, oversight of MI5, and immigration and nationality matters. As Permanent Secretary, Gieve was in charge of the Department's administrative functions and its civil servants, working to the Ministerial team headed by the Home Secretary. During Gieve's tenure at the Home Office, there were three Home Secretaries; Jack Straw (until 2001), David Blunkett (2001–2004), and Charles Clarke (from 2004). Blunkett was obliged to resign from government after a scandal involving accusations o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rachel Lomax
Janis Rachel Lomax (born 15 July 1945) is a British economist, banker, and former government official who served as Deputy Governor of the Bank of England, sitting on the Monetary Policy Committee from 1 July 2003 to 30 June 2008. Early life Lomax was born in Swansea, Wales. She was educated at the independent Rossall Preparatory School and Cheltenham Ladies' College, and graduated from Girton College, Cambridge with an MA in 1966, before obtaining an MSc in economics from the London School of Economics in 1968. Career After graduating from LSE in 1968, she joined HM Treasury, where she worked on a range of macroeconomic, monetary, and financial issues. She was in succession Principal Private Secretary to the Chancellor of the Exchequer Nigel Lawson in 1985–86, then a deputy secretary at the Treasury, and then Deputy Chief Economic Adviser in 1990–94. In 1994–95, she was head of the Economic and Domestic Secretariat at the Cabinet Office. From 1995 to 1996, she was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and also published digitally that focuses on business and economic Current affairs (news format), current affairs. Based in London, the paper is owned by a Japanese holding company, Nikkei, Inc., Nikkei, with core editorial offices across Britain, the United States and continental Europe. In July 2015, Pearson plc, Pearson sold the publication to Nikkei for Pound sterling, £844 million (US$1.32 billion) after owning it since 1957. In 2019, it reported one million paying subscriptions, three-quarters of which were digital subscriptions. In 2023, it was reported to have 1.3 million subscribers of which 1.2 million were digital. The newspaper has a prominent focus on Business journalism, financial journalism and economic analysis rather than News media, generalist reporting, drawing both criticism and acclaim. It sponsors an Financial Times and McKinsey Business Book of the Year Award, annual book ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Executive (government)
The executive branch is the part of government which executes or enforces the law. Function The scope of executive power varies greatly depending on the political context in which it emerges, and it can change over time in a given country. In democratic countries, the executive often exercises broad influence over national politics, though limitations are often applied to the executive. In political systems based on the separation of powers, government authority is distributed between several branches to prevent power from being concentrated in the hands of a single person or group. To achieve this, each branch is subject to checks by the other two; in general, the role of the legislature is to pass laws, which are then enforced by the executive, and interpreted by the judiciary. The executive can also be the source of certain types of law or law-derived rules, such as a decree or executive order. In those that use fusion of powers, typically parliamentary systems, such as th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
June 2010 United Kingdom Budget
The June 2010 United Kingdom Budget, officially also known as Responsibility, freedom, fairness: a five-year plan to re-build the economy, was delivered by George Osborne, Chancellor of the Exchequer, to the House of Commons in his budget speech that commenced at 12.33pm on Tuesday, 22 June 2010 (just 90 days after the previous budget speech).Budget key points: At-a-glance BBC News, 22 June 2010 It was the first of the Conservative-Liberal Democrat coalition formed after the [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alliance Manchester Business School
Alliance Manchester Business School (Alliance MBS) is the business school of the University of Manchester in Manchester, England. It is one of the oldest business schools in the UK, and provides education to undergraduates, postgraduates and executives. According to the ''Financial Times'' 2018 Global MBA Rankings, its MBA programme is ranked 10th in Europe, 36th in the world and 4th in the UK. Its "MSc Business Analytics" programme ranked 6th in the world and 2nd in the UK; "MSc International Business and Management" 20th and "MSc Finance" 18th, as per the QS World University Ranking 2018. It includes departments from both the former Victoria University of Manchester's Faculty of Business Administration, and from UMIST. History The foundation of the School dates back to 1918, when the Manchester Municipal College of Technology (as UMIST was then called) pioneered academic training in management, with the formation of a Department of Industrial Administration E. S. Byng, "P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Colin Talbot
Colin Ronald Talbot (born 1952) is a British political scientist. He was until August 2017 a professor at the University of Manchester and held the Chair of Government in the School of Social Sciences. He is now Professor Emeritus at Manchester and a research associate at the University of Cambridge. He has also been an adviser to UK Parliamentary Committees on HM Treasury and on Public Administration. Life and career Colin Talbot has had an unconventional career, leaving school at 16 and working in various jobs before enrolling for an economics and social sciences degree course at Manchester University at the age of 21. He did not obtain a degree, instead becoming involved in student politics at Manchester University at the time. He subsequently obtained an MSc from London South Bank University and a PhD from the London School of Economics and Political Science. His doctoral thesis, awarded in 1995, was oDeveloping strategic managers for UK public services---a competing values ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Bank Of Scotland
The Royal Bank of Scotland Public Limited Company () is a major retail banking, retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest and Ulster Bank. The Royal Bank of Scotland has around 700 branches, mainly in Scotland, though there are branches in many larger towns and cities throughout England and Wales. The bank is completely separate from the fellow Edinburgh-based bank, the Bank of Scotland, which pre-dates the Royal Bank by 32 years. The Royal Bank of Scotland was established to provide a bank with strong House of Hanover, Hanoverian and Whigs (British political party), Whig ties. Following ringfencing of the Group's core domestic business, the bank became a direct subsidiary of NatWest Holdings in 2019. NatWest Markets comprises the Group's investment banking arm. To give it legal form, the former RBS entity was renamed NatWest Markets in 2018; at the same time Adam and Company (which held a separa ... [...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] |
Alan Budd
Sir Alan Peter Budd (16 November 1937 – 13 January 2023) was a British economist, who was a founding member of the Bank of England's Monetary Policy Committee (MPC) in 1997. Budd left the MPC in May 1999, and between August 1999 and 2008 was Provost of The Queen's College, Oxford. Budd was temporarily head of Her Majesty's Government's Office for Budget Responsibility during 2010. Education Budd went to Oundle School, a public school in Northamptonshire, and then studied at the London School of Economics where he received a B.Sc. degree in economics. He subsequently went to the University of Oxford where he received an MA degree and a D.Phil. degree and to the University of Cambridge where he obtained a Ph.D. degree. His academic posts included the University of Southampton, Carnegie-Mellon University, University of Pittsburgh (Ford foundation visiting professor), and the University of New South Wales (Reserve Bank of Australia visiting professor). Economic posit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
