a) Success of British government and Bank of England in running British economy Introduction
After Gordon Brown resignation in May 2010, David Cameron followed as Prime Minister of a coalition government, the first to happen after Churchill War Ministry of the Second World War. This government is composed my members of both Conservative Party and Liberal Democratic. Bank of England
Founded in 1694 and nationalized in 1946, the Bank of England is the Central Bank of the United Kingdom. It gained independence in 1997 and is the centre of the UK’s financial system. As its contribution to a healthy economy the Bank of England has to promote and maintain monetary and financial stability. It has the Monetary Policy Committee which manages the country monetary policy on adverse circumstances or public matters. This Committee is allowed to act by the Treasury to act. The Bank of England works closely with other banks and international organisations and HM Treasury and the Finance Services Authority. The Plan for Growth
David Cameron’s Government has been delivering a programme of structural reforms so that Britain may catch up the ground lost in the world’s economy and avoid the rising of unemployment figures, the loss of public services and poorness of the country. Contrary to other nations, UK has not improved its economy. This Plan for Growth was published together the Budget 2011 and was designed to achieve the following: * Encouraging investment and exports as a route to a more balanced economy; * Ensure the UK remains one of the top destinations for foreign direct investment (FDI) * An increase in exports to key target markets
* An increase in private sector employment, especially in regions outside London and the South East * Increased investment in low carbon technologies
* Making the UK the best place in Europe to start, finance and grow a business; * Improving the UK’s...