|
Exchange Controls In The United Kingdom
Exchange controls, also known as capital controls and currency controls, limiting the convertibility of Pounds sterling into foreign currencies, operated within the United Kingdom from the outbreak of war in 1939 until they were abolished by the Conservative Government of Prime Minister Margaret Thatcher in October 1979.Daily Telegraph 25 September 2018 Retrieved 26 September 2018 History Exchange controls were originally enacted at the outbreak of war in 1939, to prevent a run on sterling, and to prevent any potential panic outflow of capital from the UK.[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exchange Controls
Foreign exchange controls are various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents, on the purchase/sale of local currency by nonresidents, or the transfers of any currency across national borders. These controls allow countries to better manage their economies by controlling the inflow and outflow of currency, which may otherwise create exchange rate volatility. Countries with weak and/or developing economies generally use foreign exchange controls to limit speculation against their currencies. They may also introduce capital controls, which limit foreign investment in the country. Rationale Common foreign exchange controls include: * banning the use of foreign currency within the country; * banning locals from possessing foreign currency; * restricting currency exchange to government-approved exchangers; * fixed exchange rates * restricting the amount of currency that may be imported or exported; Often, foreign excha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London Stock Exchange
The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cathedral. Since 2007, it has been part of the London Stock Exchange Group (LSEG, which the exchange also lists (ticker symbol LSEG)). Despite a post-Brexit exodus of stock listings from the LSE, it was the most valued stock exchange in Europe as of 2023. According to the 2020 Office for National Statistics report, approximately 12% of UK-resident individuals reported having investments in stocks and shares. According to a 2020 Financial Conduct Authority report, approximately 15% of British adults reported having investments in stocks and shares. History Coffee House The Royal Exchange, London, Royal Exchange had been founded by the English financier Thomas Gresham and Sir Richard Clough on the model of the The Belgian bourse of Antwerp, An ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sterling Area
The sterling area (or sterling bloc, legally scheduled territories) was a group of countries that either adopted or pegged their currencies to the pound sterling. The area began to appear informally during the early 1930s, after sterling had left the gold standard in 1931, with the result that a number of currencies of countries that historically had performed a large amount of their trade in sterling were pegged to sterling instead of to gold. A large number of these countries were part of the British Empire; however, a significant minority were not. Early in the Second World War, emergency legislation united the sterling bloc countries and territories (except Hong Kong) of the British Empire in a single exchange control area to protect the external value of sterling, among other aims. Canada and Newfoundland were already linked to the US dollar and did not join the sterling bloc. The Bank of England in London guided co-ordination of monetary policy in the currency area. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of The United Kingdom
The United Kingdom has a highly developed social market economy. From 2017 to 2025 it has been the sixth-largest national economy in the world measured by nominal gross domestic product (GDP), tenth-largest by purchasing power parity (PPP), and about 18th by nominal GDP per capita, constituting 2.4% of world GDP and 2.2% by purchasing power parity (PPP). The United Kingdom has one of the most globalised economies and comprises England, Scotland, Wales and Northern Ireland. In 2022, the United Kingdom was the fifth-largest exporter of goods and services in the world and the fourth-largest importer. It also had the fourth-largest outward foreign direct investment, and the fifteenth-largest inward foreign direct investment. In 2022, the United Kingdom's trade with the European Union accounted for 42% of the country's exports and 48% of its total imports. The United Kingdom has a highly efficient and strong social security system, which comprises roughly 24.5% of GDP ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of The United Kingdom
The economic history of the United Kingdom relates the economic development in the British state from the absorption of Wales into the Kingdom of England after Laws in Wales Acts 1535 and 1542, 1535 to the modern United Kingdom of Great Britain and Northern Ireland of the early 21st century. Scotland and England (including Wales, which had been treated as part of England since 1536) shared a monarch from 1603 but their economies were run separately until they were unified in the Act of Union 1707. Ireland was incorporated in the United Kingdom economy between 1800 and 1922; from 1922 the Irish Free State (the modern Republic of Ireland) became independent and set its own economic policy. Great Britain, and England in particular, became one of the most prosperous economic regions in the world between the late 1600s and early 1800s as a result of being the birthplace of the Industrial Revolution that began in the mid-eighteenth century. The developments brought by industrialisati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John McDonnell
John Martin McDonnell (born 8 September 1951) is a British politician who served as Shadow Chancellor of the Exchequer from 2015 to 2020. He has been the Member of Parliament (United Kingdom), Member of Parliament (MP) for Hayes and Harlington (UK Parliament constituency), Hayes and Harlington since 1997 United Kingdom general election, 1997, representing the Labour Party (UK), Labour Party until the Whip (politics), whip was withdrawn and his suspension on 23 July 2024 as a result of voting to scrap the two child benefit cap. McDonnell is on the political left and a member of the Socialist Campaign Group. He stood for the position of Leader of the Labour Party (UK), Labour Party leader following Tony Blair's resignation in 2007 Labour Party leadership election (UK), 2007, but failed to reach the required number of nominations. He was a candidate for the party leadership again in 2010 Labour Party leadership election (UK), 2010 following Gordon Brown's resignation after Labou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euro
The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the euro area or, more commonly, the eurozone. The euro is divided into 100 1 euro cent coin, euro cents. The currency is also used officially by the institutions of the European Union, by International status and usage of the euro, four European microstates that are not EU members, the British Overseas Territory of Akrotiri and Dhekelia, as well as unilaterally by Montenegro and Kosovo. Outside Europe, a number of special territories of EU members also use the euro as their currency. The euro is used by 350 million people in Europe and additionally, over 200 million people worldwide use currencies pegged to the euro. It is the second-largest reserve currency as well as the second-most traded currency in the world after the United Sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Denis Healey
Denis Winston Healey, Baron Healey (30 August 1917 – 3 October 2015) was a British Labour Party politician who served as Chancellor of the Exchequer from 1974 to 1979 and as Secretary of State for Defence from 1964 to 1970; he remains the longest-serving Defence Secretary to date. He was a Member of Parliament from 1952 to 1992, and was Deputy Leader of the Labour Party from 1980 to 1983. To the public at large, Healey became well known for his bushy eyebrows, his avuncular manner and his creative turns of phrase. Healey attended the University of Oxford and served as a Major in the Second World War. He was later an agent for the Information Research Department (IRD), a secret branch of the Foreign Office dedicated to spreading anti-communist propaganda during the early Cold War. Healey was first elected to Parliament in a by-election in 1952 for the seat of Leeds South East. He moved to the seat of Leeds East at the 1955 election, which he represented until his retireme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nicholas Goodison
Sir Nicholas Proctor Goodison (16 May 1934 – 6 July 2021) was a British businessman who was chairman of the London Stock Exchange from 1976 to 1986. He was an important supporter of the arts and the President of the Furniture History Society (FHS). Career Goodison was born in Watford, the son of Edmund Harold Goodison and Eileen Mary Carrington Proctor. He was educated at Marlborough College and then King's College, Cambridge, of which he was an honorary fellow. He was made a Knight Bachelor in the 1982 New Year Honours. He served as chairman of the Courtauld Institute of Art from 1982 to 2002 and of the National Art Collections Fund (now The Art Fund) from 1986 to 2002. He appeared as a castaway on the BBC Radio programme ''Desert Island Discs'' on 1 March 1987. Artistic legacy The National Portrait Gallery, London holds two portraits of Goodison in its collection, a bust by Ivor Roberts-Jones and a photograph by Lucy Anne Dickens. His portrait in oil, by Tom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Controls
Capital controls are residency-based measures such as transaction taxes, other limits, or outright prohibitions that a nation's government can use to regulate flows from capital markets into and out of the country's capital account. These measures may be economy-wide, sector-specific (usually the financial sector), or industry specific (e.g. "strategic" industries). They may apply to all flows, or may differentiate by type or duration of the flow (debt, equity, or direct investment, and short-term vs. medium- and long-term). Types of capital control include exchange controls that prevent or limit the buying and selling of a national currency at the market rate, caps on the allowed volume for the international sale or purchase of various financial assets, transaction taxes such as the proposed Tobin tax on currency exchanges, minimum stay requirements, requirements for mandatory approval, or even limits on the amount of money a private citizen is allowed to remove from the cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Geoffrey Howe
Richard Edward Geoffrey Howe, Baron Howe of Aberavon, (20 December 1926 – 9 October 2015), known from 1970 to 1992 as Sir Geoffrey Howe, was a British politician who served as Deputy Prime Minister of the United Kingdom from 1989 to 1990. A member of the Conservative Party, he was Margaret Thatcher's longest-serving Cabinet minister, successively holding the posts of chancellor of the Exchequer, foreign secretary, and finally leader of the House of Commons, deputy prime minister and Lord President of the Council. His resignation on 1 November 1990 is widely considered to have precipitated the leadership challenge that led to Thatcher's resignation three weeks later. Born in Port Talbot, Wales, Howe was educated at Bridgend Preparatory School, Abberley Hall School, Winchester College, and – after serving in the army as a lieutenant – Trinity Hall, Cambridge, where he read law. He was called to the bar in 1952 and practised in Wales, after whi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chancellor Of The Exchequer
The chancellor of the exchequer, often abbreviated to chancellor, is a senior minister of the Crown within the Government of the United Kingdom, and the head of HM Treasury, His Majesty's Treasury. As one of the four Great Offices of State, the chancellor is a high-ranking member of the British Cabinet. Responsible for all economic and financial matters, the role is equivalent to that of a finance minister in other countries. The chancellor is now always second lord of the Treasury as one of at least six Lords Commissioners of the Treasury, lords commissioners of the Treasury, responsible for executing the office of the Treasurer of the Exchequer the others are the prime minister and Commons government whips. In the 18th and early 19th centuries, it was common for the prime minister also to serve as Chancellor of the Exchequer if he sat in the Commons; the last Chancellor who was simultaneously prime minister and Chancellor of the Exchequer was Stanley Baldwin in 1923. Formerl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
