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Government Procurement In The United Kingdom
At around £290 billion every year, public sector procurement accounts for around a third of all public expenditure in the UK. EU-based laws continue to apply to government procurement: procurement is governed by the Public Contracts Regulations 2015, Part 3 of the Small Business, Enterprise and Employment Act 2015, and (in Scotland) the Public Contracts (Scotland) Regulations of 2015 and 2016. These regulations implement EU law, which applied in the UK prior to Brexit, and also contain rules known as the "Lord Young Rules" promoting access for small and medium enterprise (SMEs) to public sector contracts, based on Lord Young's Review ''Growing Your Business'', published in 2013.Local Government Association'Lord Young' reforms accessed 11 September 2016 In November 2016 an advisory panel of 24 entrepreneurs and business figures was formed to advise the government on purchasing goods and services from SMEs, and a campaign was launched to demonstrate that "government is open for busin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Expenditure
Public expenditure is spending made by the government of a country on collective needs and wants, such as pension, provisions, security, infrastructure, etc. Until the 19th century, public expenditure was limited as laissez faire philosophies believed that money left in private hands could bring better returns. In the 20th century, John Maynard Keynes argued the role of public expenditure in determining levels of income and distribution in the economy. Since then, government expenditures has shown an increasing trend. Sources of government revenue include taxes, and non-tax revenues. In the 17th and the 18th centuries, public expenditure was considered a wastage of money. Thinkers believed government should stay with their traditional functions of spending on defense and maintaining law and order. Theories of public expenditure Several theories of taxation exist in public economics. Governments at all levels (national, regional and local) need to raise revenue from a variety ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unit Cost
The unit cost is the price incurred by a company to produce, store and sell one unit of a particular product. Unit costs include all fixed costs and all variable costs Variable costs are costs that change as the quantity of the good or service that a business produces changes.Garrison, Noreen, Brewer. Ch 2 - Managerial Accounting and Costs Concepts, pp 48 Variable costs are the sum of marginal costs over all u ... involved in production. Cost unit is a form of measurement of volume of production or service. Cost unit vs unit cost Cost unit is the standard unit for buying the minimum of any product. Unit cost is the minimum cost for buying any standard unit. References {{Business-term-stub Costs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cabinet Office
The Cabinet Office is a department of His Majesty's Government responsible for supporting the prime minister and Cabinet. It is composed of various units that support Cabinet committees and which co-ordinate the delivery of government objectives via other departments. As of December 2021, it has over 10,200 staff, most of whom are civil servants, some of whom work in Whitehall. Staff working in the Prime Minister's Office are part of the Cabinet Office. Responsibilities The Cabinet Office's core functions are: * Supporting collective government, helping to ensure the effective development, coordination and implementation of policy; * Supporting the National Security Council and the Joint Intelligence Organisation, coordinating the government's response to crises and managing the UK's cyber security; * Promoting efficiency and reform across government through innovation, transparency, better procurement and project management, by transforming the delivery of services, and impr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philip Green
Sir Philip Nigel Ross Green (born 15 March 1952) is a British businessman who was the chairman of the retail company the Arcadia Group. He owned the high street clothing retailers Topshop, Topman and Miss Selfridge from 2002 to 2020. As of May 2021, his net worth was estimated at £910 million. Green was the chairman and chief executive of Amber Day from 1988 to 1992. In 1999, he acquired Sears plc. He bought British Home Stores (BHS) for £200 million in 2000, and subsequently spent £840 million to acquire the Arcadia Group in 2002. Arcadia became a private company and was delisted from the London Stock Exchange.Arcadia History He unsuccessfully sought to acquire in 1999 and 200 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Cameron
David William Donald Cameron (born 9 October 1966) is a British former politician who served as Prime Minister of the United Kingdom from 2010 to 2016 and Leader of the Conservative Party from 2005 to 2016. He previously served as Leader of the Opposition from 2005 to 2010, and was Member of Parliament (MP) for Witney from 2001 to 2016. He identifies as a one-nation conservative, and has been associated with both economically liberal and socially liberal policies. Born in London to an upper-middle-class family, Cameron was educated at Heatherdown School, Eton College, and Brasenose College, Oxford. From 1988 to 1993 he worked at the Conservative Research Department, latterly assisting the Conservative Prime Minister John Major, before leaving politics to work for Carlton Communications in 1994. Becoming an MP in 2001, he served in the opposition shadow cabinet under Conservative leader Michael Howard, and succeeded Howard in 2005. Cameron sought to rebrand the Conservat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Framework Agreement (procurement)
In the context of negotiations, a framework agreement is an agreement between two parties that recognizes that the parties have not come to a final agreement on all matters relevant to the relationship between them, but have come to agreement on enough matters to move forward with the relationship, with further details to be agreed to in the future. In the context of procurement, a framework agreement is an agreement between one or more businesses or organisations, "the purpose of which is to establish the terms governing contracts to be awarded during a given period, in particular with regard to price and, where appropriate, the quantity envisaged". International framework agreements In international law, such an agreement between countries or groups can acknowledge that they cannot reach full agreement on all issues, but are willing to memorialize a structure by which some disagreements can be resolved.Shabtai Rosenne, “The Framework Agreement as the Basis for the Jurisdicti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Contractor
A general contractor, main contractor or prime contractor is responsible for the day-to-day oversight of a construction site, management of vendors and trades, and the communication of information to all involved parties throughout the course of a building project. Description A general contractor is a construction manager employed by a client, usually upon the advice of the project's architect or engineer. Responsible for the overall coordination of a project, general contractors may also act as building designer and foreman (a tradesman in charge of a crew). A general contractor must first assess the project-specific documents (referred to as a bid, proposal, or tender documents). In the case of renovations, a site visit is required to get a better understanding of the project. Depending on the project delivery method, the contractor will submit a fixed price proposal or bid, cost-plus price or an estimate. The general contractor considers the cost of home office overhead, gen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assignment (law)
An assignment is a legal term used in the context of the law of contract and of property. In both instances, assignment is the process e whereby a person, the ''assignor'', transfers rights or benefits to another, the ''assignee''.For the assignment of claim seTrans-Lex.org/ref> An assignment may not transfer a duty, burden or detriment without the express agreement of the assignee. The right or benefit being assigned may be a gift (such as a waiver) or it may be paid for with a contractual consideration such as money. The rights may be vested or contingent,. and may include an equitable interest. Mortgages and loans are relatively straightforward and amenable to assignment. An assignor may assign rights, such as a mortgage note issued by a third party borrower, and this would require the latter to make repayments to the assignee. A related concept of assignment is novation wherein, by agreement with all parties, one contracting party is replaced by a new party. While novatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cash Flow
A cash flow is a real or virtual movement of money: *a cash flow in its narrow sense is a payment (in a currency), especially from one central bank account to another; the term 'cash flow' is mostly used to describe payments that are expected to happen in the future, are thus uncertain and therefore need to be forecast with cash flows; *a cash flow is determined by its time ''t'', nominal amount ''N'', currency ''CCY'' and account ''A''; symbolically ''CF'' = ''CF''(''t,N,CCY,A''). * it is however popular to use ''cash flow'' in a less specified sense describing (symbolic) payments into or out of a business, project, or financial product. Cash flows are narrowly interconnected with the concepts of value, ''interest rate'' and liquidity. A cash flow that shall happen on a future day ''t''N can be transformed into a cash flow of the same value in ''t''0. Cash flow analysis Cash flows are often transformed into measures that give information e.g. on a company's value and situat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Small And Medium-sized Enterprise
Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank, the European Union, the United Nations, and the World Trade Organization (WTO). In any given national economy, SMEs sometimes outnumber large companies by a wide margin and also employ many more people. For example, Australian SMEs makeup 98% of all Australian businesses, produce one-third of the total GDP (gross domestic product) and employ 4.7 million people. In Chile, in the commercial year 2014, 98.5% of the firms were classified as SMEs. In Tunisia, the self-employed workers alone account for about 28% of the total non-farm employment, and firms with fewer than 100 employees account for about 62% of total employment. The United States' SMEs generate half of all U.S. jobs, but only 40% of GDP. Developing countries tend to have a lar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 United Kingdom Budget
The 2008 United Kingdom Budget, officially known as Budget 2008: Stability and opportunity: building a strong, sustainable future, was formally delivered by Alistair Darling in the House of Commons on 12 March 2008. It was the first Budget to be delivered by Darling, who had been appointed Chancellor of the Exchequer the previous June. Among the changes from the previous year were that taxes on alcohol, cigarettes and high-polluting cars would be increased. Child Benefit would be raised to £20 a week from April 2009; winter fuel payments for pensioners would also be increased. All long-term recipients of Incapacity Benefit would have to attend work capacity programmes from April 2010. The growth of the national economy was expected to slow down to approximately 2% in 2008, down from 3% in the previous year. Details Taxes Spending Notes External links Complete Budget 2008 Report {{United Kingdom budget Budget United Kingdom budgets United Kingdom budget The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Chain
In commerce, a supply chain is a network of facilities that procure raw materials, transform them into intermediate goods and then final products to customers through a distribution system. It refers to the network of organizations, people, activities, information, and resources involved in delivering a product or service to a consumer. Supply chain activities involve the transformation of natural resources, raw materials, and components into a finished product and delivering the same to the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on. Overview A typical supply chain begins with the ecological, biological, and political regulation of natural resources, followed by the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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