Money Archives - NEWS YOU NEED TO KNOW !

Dec

20

2023

1 Comment

By Akhil Vaid

Minimum Wage and life in the United Kingdom

Moneyeconomy, government, minimum wage, Money, uk, United Kingdom

Minimum Wage and life in the United KingdomMinimum wage was invented to regulate employers. It first emerged during the 1870s, as there were no concrete employment laws as they are existing and enforced today. The trade unions in the United Kingdom were presenting continuous strikes in demand for better wages that would help them achieve better living conditions, health, sanitation and housing. They argued that the minimum wage should provide reasonable time for recreation and rest as well as reasonable home comforts and be sufficient to allow them to discharge the duties of citizenship. Presently The National Minimum Wage Act…

Present state of United Kingdom

Main NewsGovernmnet, Money, Politics, UK news, United Kingdom

Present state of United KingdomLet's consider some facts. As the global economic and political situations change, they present constant challenges and hurdles for the government of the United Kingdom. The problem is buying goods from foreign countries to meet its consumption makes the UK dependent on foreign producers. In 2022 the UK imported £155.5 billion of goods while the exports were around £66.2 billion. In 2020 the United Kingdom’s worth was £10.7 trillion furthermore United Kingdom foreign exchange reserves were 115.5 USD billion in October 2023.So the question is why is the UK facing a crisis in keeping its population…

Why does the government need money ?

MoneyGovernmnet, Money, Taxes, United Kingdom

Why does the government need money ?Government needs money to run its various departments, pay the government employees and provide its citizens goods and services such as hospitals, schools, social security, national defense, law enforcements, disability payments and unemployment support to name a few. Without these services and public goods it would be impossible to run a country.How does the United Kingdom Government generate revenue ?Main income source of the United Kingdom government is taxation. Corporate Taxes, Income Taxes, Value Added Taxes are few streams that generate revenue for the governments.Why does the United Kingdom Government borrow money? All governments like…