Definition of Dependency Culture. This refers to a system of social welfare that encourages people to stay on benefits rather than work. It suggests the tax and benefit system is designed to give little incentive for getting off benefits and into work. A dependency culture may arise out of a desire to reduce relative poverty, …
The UK has often experienced high levels of geographical unemployment. In particular areas in the north and south Wales experienced high levels of unemployment after the closure of heavy manufacturing and the coal mines. Assisted areas are government designated regions with above average levels of unemployment. They then qualify for government assistance in the form …
Definition of Base Rate. In the UK, the base rate is the term given to describe the interest rate which the Bank of England control. The base rate is the rate that the Bank charge commercial banks and discount houses. It is also known as the Repo Rate. The base rate is used to influence …
The competition commission is the UK body set up in 1998 to regulate mergers and monopoly power in UK markets. It replaced the Monopolies and Mergers Commission. It often deals with issues referred to it by the Office of Fair Trading OFT The competition commission only makes recommendations, enforcement of rules is done by the …
Benefit fraud and tax avoidance are currently emotive topics. What is the extent of benefit fraud and tax fraud in the UK? Benefit Fraud For 2011/12 (preliminary), it is estimated that 2.0 per cent of total benefit expenditure was overpaid due to fraud and error. In 2010/11 – benefit fraud was estimated at £3.4bn – …
Reasons for the economic decline of Italy.
Readers Question I’ve recently been looking up on the Eurozone financial crisis for random reasons and i don’t understand the statement in an FT article about what we must acknowledge in order to overcome the Eurozone problems. The statement goes ‘no country can be expected to generate huge primary surpluses for long periods for the …
The French are not too happy. The rating agency Moody have stripped France of their triple AAA rating – downgrading French debt to AA. [link] It probably wouldn’t be so bad, but their English neighbours still retain a AAA rating, despite having a much higher budget deficit. As the English would say, that’s just not …