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Bank Referral Scheme
The UK government-mandated bank referral scheme (Designated Platforms) was created by the Small Business, Enterprise and Employment Act 2015 to allow the UK government to track businesses and their requests for business finance. The scheme was launched in November 2016 after more than two years of deliberation. Businesses who have been unsuccessful in a credit application process with a bank will be asked for their permission to have their financial information passed to designated finance platforms, who can contact the business in a regulated time-frame. The three designated finance platforms selected are Funding Options, Funding Xchange and Alternative Business Funding. The Sunday Times reported in March 2017 that since the launch, the scheme has seen low numbers of referrals. Of the businesses which have been declined by the high street banks, less than 24 percent have been referred to the Designated Platforms. How the Referral Scheme works The bank referral scheme imposes a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of The United Kingdom
ga, Rialtas a Shoilse gd, Riaghaltas a Mhòrachd , image = HM Government logo.svg , image_size = 220px , image2 = Royal Coat of Arms of the United Kingdom (HM Government).svg , image_size2 = 180px , caption = Royal coat of arms of the United Kingdom, Royal Arms , date_established = , state = United Kingdom , address = 10 Downing Street, London , leader_title = Prime Minister of the United Kingdom, Prime Minister (Rishi Sunak) , appointed = Monarchy of the United Kingdom, Monarch of the United Kingdom (Charles III) , budget = 882 billion , main_organ = Cabinet of the United Kingdom , ministries = 23 Departments of the Government of the United Kingdom#Ministerial departments, ministerial departments, 20 Departments of the Government of the United Kingdom#Non-ministerial departments, non-ministerial departments , responsible = Parliament of the United Kingdom , url = The Government of the United Kingdom (commonly referred to as British Governmen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secretary Of State For Business, Energy And Industrial Strategy
The secretary of state for business, energy and industrial strategy, is a secretary of state in the Government of the United Kingdom, with responsibility for the Department for Business, Energy and Industrial Strategy. The incumbent is a member of the Cabinet of the United Kingdom. The incumbent Business Secretary is Grant Shapps who was appointed by Rishi Sunak on 25 October 2022. Responsibilities Corresponding to what is generally known as a commerce minister in many other countries, the business secretary's remit includes: * Oversight of science, research and innovation in Britain * Relations with domestic and international business * Policy relating to climate change * Policy relating to deregulation * Policy relating to energy security * Oversight of energy policy and industrial policy History During the government of Sir Alec Douglas-Home, the then President of the Board of Trade Edward Heath was given in addition the job of Secretary of State for Industry, Trade a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In The United Kingdom
Banking in the United Kingdom can be considered to have started in the Kingdom of England in the 17th century. The first activity in what later came to be known as banking was by goldsmiths who, after the dissolution of English monasteries by Henry VIII, began to accumulate significant stocks of gold. 17th century Many goldsmiths were associated with The Crown but, following seizure of gold held at the Royal Mint in the Tower of London by Charles I, they extended their services to gentry and aristocracy as the Royal Mint was no longer considered a safe place to keep gold. Goldsmiths came to be known as ‘keepers of running cash’ and they accepted gold in exchange for a receipt as well as accepting written instructions to pay back, even to third parties. This instruction was the forerunner to the modern banknote or cheque. Around 1650, a cloth merchant, Thomas Smith opened the first provincial bank in Nottingham. During 1694 the Bank of England was founded. The Governor and C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Assent
Royal assent is the method by which a monarch formally approves an act of the legislature, either directly or through an official acting on the monarch's behalf. In some jurisdictions, royal assent is equivalent to promulgation, while in others that is a separate step. Under a modern constitutional monarchy, royal assent is considered little more than a formality. Even in nations such as the United Kingdom, Norway, the Netherlands, Liechtenstein and Monaco which still, in theory, permit their monarch to withhold assent to laws, the monarch almost never does so, except in a dire political emergency or on advice of government. While the power to veto by withholding royal assent was once exercised often by European monarchs, such an occurrence has been very rare since the eighteenth century. Royal assent is typically associated with elaborate ceremony. In the United Kingdom the Sovereign may appear personally in the House of Lords or may appoint Lords Commissioners, who announce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HM Treasury
His Majesty's Treasury (HM Treasury), occasionally referred to as the Exchequer, or more informally the Treasury, is a department of His Majesty's Government responsible for developing and executing the government's public finance policy and economic policy. The Treasury maintains the Online System for Central Accounting and Reporting (OSCAR), the replacement for the Combined Online Information System (COINS), which itemises departmental spending under thousands of category headings, and from which the Whole of Government Accounts (WGA) annual financial statements are produced. History The origins of the Treasury of England have been traced by some to an individual known as Henry the Treasurer, a servant to King William the Conqueror. This claim is based on an entry in the Domesday Book showing the individual Henry "the treasurer" as a landowner in Winchester, where the royal treasure was stored. The Treasury of the United Kingdom thus traces its origins to the Treasury of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Business Bank
British Business Bank plc (BBB) is a state-owned economic development bank established by the UK Government. Its aim is to increase the supply of credit to small and medium enterprises (SMEs) as well as providing business advice services. It is structured as a public limited company and is owned by the Department for Business, Energy and Industrial Strategy (BEIS, formerly known as the Department of Business, Innovation and Skills or BIS). The bank has its headquarters in Sheffield. History The intention to create a business bank was first announced by the Secretary of State for Business, Innovation and Skills, Vince Cable, in September 2012 with an initial £1 billion of government funding. The aim was to bring a number of government financial schemes, advice services and expertise together, creating a one stop shop for small and medium enterprises (SMEs) to go to. From 1 October 2013, Capital for Enterprise Limited (CfEL), BIS SME policy teams and private sector experti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George Osborne
George Gideon Oliver Osborne (born Gideon Oliver Osborne; 23 May 1971) is a former British politician and newspaper editor who served as Chancellor of the Exchequer from 2010 to 2016 and as First Secretary of State from 2015 to 2016 in the Cameron government. A member of the Conservative Party, he was Member of Parliament (MP) for Tatton from 2001 to 2017. He was editor of the ''Evening Standard'' from 2017 to 2020. The son of the Osborne & Little co-founder and baronet Peter Osborne, Osborne was born in Paddington and educated at Norland Place School, Colet Court and St Paul's School before studying at Magdalen College, Oxford. After working briefly as a freelancer for ''The Daily Telegraph'', he joined the Conservative Research Department in 1994 and became head of its political section. He went on to be a special adviser to Minister of Agriculture, Fisheries and Food Douglas Hogg and work for John Major at 10 Downing Street, including on Major's unsuccessful 1997 gen ... [...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 head of 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, 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. Formerly, in cases when the chancellorship was vacant, the L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vince Cable
Sir John Vincent Cable (born 9 May 1943) is a British politician who was Leader of the Liberal Democrats from 2017 to 2019. He was Member of Parliament (MP) for Twickenham from 1997 to 2015 and from 2017 to 2019. He also served in the Cabinet as Secretary of State for Business, Innovation and Skills from 2010 to 2015. Cable studied Economics at Cambridge and Glasgow, before working as an economic adviser to the Government of Kenya in the 1960s, and for the Commonwealth Secretariat in the 1970s and 1980s. During this period, he also lectured in economics at Glasgow. He later served as Chief Economist for Shell in the 1990s. Initially active in the Labour Party, Cable became a Labour councillor in Glasgow in the 1970s, during which time he also served as a special adviser to then- Trade Secretary John Smith. In 1982, however, he defected to the newly formed Social Democratic Party, which later amalgamated with the Liberal Party to form the Liberal Democrats. After standing uns ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nick Clegg
Sir Nicholas William Peter Clegg (born 7 January 1967) is a British media executive and former Deputy Prime Minister of the United Kingdom who has been president for global affairs at Meta Platforms since 2022, having previously been vicepresident of global affairs and communications at Facebook from 2018 to 2022. Before joining Facebook, Clegg served as Deputy Prime Minister of the UK from 2010 to 2015 and as Leader of the Liberal Democrats from 2007 to 2015. He was Member of Parliament (MP) for Sheffield Hallam from 2005 to 2017. An " Orange Book" liberal, he has been associated with both socially liberal and economically liberal policies. Born in Buckinghamshire, Clegg was educated at Westminster School before going on to study at the University of Cambridge, University of Minnesota and College of Europe. He worked as a journalist for the ''Financial Times'' before becoming a Member of the European Parliament (MEP) in 1999. After his election to the House of Commons in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit (finance)
Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower. Etymology The term "credit" was first used in English in the 1520s. The term came "from Middle French crédit (15c.) "belief, trust," from Italian credito, from Latin creditum "a loan, thing entrusted to another," from pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liberal Democrats (UK)
The Liberal Democrats (commonly referred to as the Lib Dems) are a liberal political party in the United Kingdom. Since the 1992 general election, with the exception of the 2015 general election, they have been the third-largest UK political party by the number of votes cast. They have 14 Members of Parliament in the House of Commons, 83 members of the House of Lords, four Members of the Scottish Parliament and one member in the Welsh Senedd. The party has over 2,500 local council seats. The party holds a twice-per-year Liberal Democrat Conference, at which party policy is formulated, with all party members eligible to vote, under a one member, one vote system. The party served as the junior party in a coalition government with the Conservative Party between 2010 and 2015; with Scottish Labour in the Scottish Executive from 1999 to 2007, and with Welsh Labour in the Welsh Government from 2000 to 2003 and from 2016 to 2021. In 1981, an electoral alliance was established b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
