StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

The Economic and Political Environment of the UK - Essay Example

Cite this document
Summary
The paper "The Economic and Political Environment of the UK" states that generally speaking, reforms must be done to improve the state but not to equalize one’s rights neglecting the history and traditions of the country which were established long ago…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER92.3% of users find it useful
The Economic and Political Environment of the UK
Read Text Preview

Extract of sample "The Economic and Political Environment of the UK"

Contemporary issue in the Economic and Political Environment of the UK Britain and the Euro Should we join or not To begin with I would like to mention that some problems in the Economy of the UK really exist. First of all they are connected with the introduction of the new currency. It is the Euro. There are a lot of talks connected with this question. Much debate is held according to this topic. We hear huge number of discussions for and against it. Almost every inhabitant of the UK has his or her own opinion as for this reform. While watching the BBC news we can get the latest information concerning this question. As for me, it is interesting to learn the current situation at home and abroad. And now I will try to give you an accurate account of the economic situation in the United Kingdom. (Minford) At the present moment Britain does not want to accept the common currency in the EU, and there are some reasons for it. First of all, the economic conditions are not suitable for it, but my point of view is that the Government should not hurry the events. Chancellor of the Exchequer of the UK thinks that the country is not ready to join the European currency. Tony Bluer is of the some opinion. He is known to be a supporter of the European fusion, but he has not made the official statement yet. But still the decision has not been taken. (Minford) The main problem is in the economy of the UK is that it is not ready for such global changes. Observers say that Chancellor of the Exchequer isn't eager to introduce the country into the European zone. Prime Minister and the whole Labour party like the idea of the economical reunion with the continental Europe. There are some reasons for it. Firstly, Britain wants to be the leader of the EU, and for it the country should have the same currency as the whole organization has. (Marsday) Secondly, there is a probability of split between the members of the Labour party. And it is not profitable for the Prime Minister. Thirdly, the Conservative party can use antagonisms among the Labour party leaders which exist. From the economic point of view it is profitable for Britain to join the Euro. But the most suitable moment for it is when the Pound will be a bit closer to the Euro. In such a way the economy of the country will not feel a big strike. Otherwise, there will be a recession of the economy. But still, the nation won't feel it, because of the high development of the social program in the country. But the competing the Conservative party is strongly against it. They lost the trust of people, because of being against joining Britain the EU. Their most influential argument is the historical currency of the country. (Marsday) Their motto is: Let's preserve the Pound. Almost half of the country supports this idea. (Minford) The Conservative Party says that people must decide whether to change the national currency or not. A national referendum must show what to do with the problem which exists. The leader of the Party is sure that the country can successfully do without the Euro. He says that British people do not want to join the Euro. People know that it is a political decision, and the economic policy is not related to it. He adds that Tony Bluer just wants to choose the suitable moment and win the referendum. The Head of the Chamber of the Commerce, David Frost, says that the Government will decide whether to join the Euro or not, but later. However the Government should denote their actions for investors to know what to do with their capital formations and what to do next. The striking example of it is the Japanese corporation Toyota. It is one of the biggest foreign investors in Britain. (Marsday) At first, Toyota and almost all the other Japanese companies wanted Britain to introduce a new European currency. They were alarmed what would be with their investment. (Minford) However, now the Head of the Japanese corporation says that Toyota has a stable position in the country, and is not going to enlarge their capital investment. The corporation is not troubled much that Britain is out of the Euro zone. Toyota is strongly convinced that only nation must decide whether to join the Euro or not. The company has its factories in Wales and Derbyshire. Britain is an important production plant in the European Union. Also the Euro is not as stable as the Pound. And it is easier to make schemes for future knowing that the coinage will not be much debased for sure. From the economic point of view the main problem is in the development of the economy of the country. But the Head of the company which is against joining the Euro is concerned that Britain shouldn't accept the European currency to develop successfully in Europe. According to his words, the country remains more powerful while it controls its economy itself. (Minford) To sum everything above mentioned up, I would like to express my own opinion about the problem which exists in Britain: to join the Euro or not. I am strictly concerned that the country should keep its currency as it is. (Marsday) The Government shouldn't change anything. The Pound has been known to be one of the most stable currencies in the world for many years. It is the part of the history of the country. And it is not a secret that British people respect their traditions. I support the opinion of the Conservative Party. It is obvious that the economic position of the UK is one of the most developed in the world. I do not see any objective reason for Britain to introduce a new currency. On the one hand you can disagree with me and say that every member of the EU must have equal rights and the law is one for everyone. (Marsday) But on the other hand we must not forget that this was created to improve the economic, political and social position of its members. From the world's history we know that such global changes are not accepted easily by the society. The economic recession follows it. EU tries to build an ideal society based on democracy. So why should anything be changed if there is no need in it Reforms must be done to improve the state but not to equalize one's rights neglecting the history and traditions of the country which were established long ago. Bibliography Minford, Patrick. "Britain, the Euro and the Five Tests." The Cato Journal 24.1-2 (2004) Kris Marsday "What means euro for working class" (2002): 98-100. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Contemporary issue in the Economic and Political Environment of the UK Essay”, n.d.)
Contemporary issue in the Economic and Political Environment of the UK Essay. Retrieved from https://studentshare.org/miscellaneous/1525186-contemporary-issue-in-the-economic-and-political-environment-of-the-uk-britain-and-the-euro-should-we-join-or-not
(Contemporary Issue in the Economic and Political Environment of the UK Essay)
Contemporary Issue in the Economic and Political Environment of the UK Essay. https://studentshare.org/miscellaneous/1525186-contemporary-issue-in-the-economic-and-political-environment-of-the-uk-britain-and-the-euro-should-we-join-or-not.
“Contemporary Issue in the Economic and Political Environment of the UK Essay”, n.d. https://studentshare.org/miscellaneous/1525186-contemporary-issue-in-the-economic-and-political-environment-of-the-uk-britain-and-the-euro-should-we-join-or-not.
  • Cited: 0 times

CHECK THESE SAMPLES OF The Economic and Political Environment of the UK

Analysis of the UK Music Retail Industry

The paper will highlight some of the changes that have been witnessed in the UK market and will provide a PEST analysis of the uk music retail industry.... Music is a lifestyle for a large proportion of the uk people.... The paper will highlight some of the changes that have been witnessed in the UK market and will provide a PEST analysis of the uk music retail industry.... Majority of the people in the uk listen to music everyday at home, at work and while enjoying their leisure in other places....
6 Pages (1500 words) Essay

Constitutional Monarchy and the Third Way in the UK

These acts are passed without the approval of the uk-Parliament.... Hover the uk does not have a written constitution but it's governed by convections which are non statutory rules and are equally binding.... Other duties include those of representing the state of Britain to the outside world In relation to the government of uk that is headed by a prime minister.... The Westminster assembly legislates on matters that touch on the whole uk as a state while the one in Edinburgh legislates for the devolved domestic matters....
5 Pages (1250 words) Essay

The Current Economic Performance of Brazil

The upcoming forecasts regarding the performance of the uk's economy are not favourable as many analysts have projected a negative growth in GDP for the year 2009.... (The Times 100, 2008) What is also important to note that a larger chunk of the uk's population is ageing, therefore, it has been anticipated that there may be a shortage of young employable population.... In order to initiate a Greenfield project in the uk, following factors may be taken into consideration: UK is going through one of the toughest economic periods in its history due to the credit crisis which emerged from the US....
4 Pages (1000 words) Essay

Economic and Political Environment of Orange Mobile

This paper 'economic and political environment of Orange Mobile" focuses on the fact that the proceedings of business are greatly influenced by changes within its environments.... The mobile phone markets in 1994 were a confusing place for customers in the uk.... Today, however, the business has developed into millions of dollars worth of industry in the uk.... According to Porter Five Forces Analysis (2004), factors that influence the proceedings of a business do not come solely from economic conditions, but social and political changes as well....
7 Pages (1750 words) Case Study

IPhone UK Market Analysis

The report "iPhone UK Market Analysis" focuses on studying the macro-environmental elements for iPhone in the uk market.... The research team found out the various macro-environmental factors that significantly impact the market strategy in the uk market.... In the rapidly changing environment of globalization, the businesses have become more competitive thereby making it obligatory for them, as well as for the working force to become more flexible and swiftly adapt to the changing technologies and work environments....
4 Pages (1000 words) Report

Economic Growth in the UK

Similarly, while neoliberal economic paradigm might have improved the Gross National Products (including that of the uk) of individual nations and improved the general standards of living, there are other aspects of human well-being that is not easily measured and fulfilled (Dixon, 1998, p.... The author of this essay comments on the economic growth in the uk.... It is stated in the present text that the promise of impressive economic growth has been a staple of electoral promises ever since the inception of parliamentary democracy in the uk....
4 Pages (1000 words) Essay

Business in Context. UK Economy

The new changes in immigration law and intellectual property law stated by the uk government have gained international attention and many international corporations are looking forward to this policy.... uk might be stronger in the financial activities and market condition but the international economic situations have a higher influence in the domestic market.... uk has shown a rise in the GDP.... This essay stresses that political factor have a huge influence upon the economy as the policies and legislatures are drafted and implemented by the political parties are mostly related to the business trade practices....
7 Pages (1750 words) Essay

Business Environment of the UK

The paper 'Business environment of the uk' focuses on globalization which has made it possible for many developing nations of yesteryears to be transformed into emerging world powers today.... The present paper deals entirely with the extent to which UK's, one such global power, c is affected by the economic power shift from the Triad region to the BRIC countries.... ome of the primary reasons behind the economic transformation post-liberalization are the realization that these emerging nations are rich in factor availabilities as well as foreign exchange reserves....
8 Pages (2000 words) Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us