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Debt Management Office (United Kingdom)
The Debt Management Office (DMO) of the United Kingdom is the executive agency responsible for debt and cash management for the UK Government, lending to local authorities and managing certain public sector funds. Purpose The DMO is responsible for day-to-day management of the UK Government's debt. It is tasked with carrying out the UK Government's debt management policy of minimising financing costs over the long term, taking account of risk, and managing the aggregate cash needs of the Exchequer in the most cost-effective way, in both cases consistently with the objectives of monetary and any wider policy considerations. It also manages the Public Works Loan Board and the Commissioners for the Reduction of the National Debt. Legal responsibility In institutional terms, the DMO is legally and constitutionally part of HM Treasury as an executive agency. The minister ultimately responsible for the DMO is the Chancellor of the Exchequer, who determines the policy and financia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Government Agency
A government agency or state agency, sometimes an appointed commission, is a permanent or semi-permanent organization in the machinery of government (bureaucracy) that is responsible for the oversight and administration of specific functions, such as an Administration (government), administration. There is a notable variety of agency types. Although usage differs, a government agency is normally distinct both from a department or Ministry (government department), ministry, and other types of public body established by government. The functions of an agency are normally executive in character since different types of organizations (''such as commissions'') are most often constituted in an advisory role — this distinction is often blurred in practice however, it is not allowed. A government agency may be established by either a national government or a state government within a federal system. Agencies can be established by legislation or by executive powers. The autonomy, indep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The UK includes the island of Great Britain, the north-eastern part of the island of Ireland, and most of List of islands of the United Kingdom, the smaller islands within the British Isles, covering . Northern Ireland shares Republic of Ireland–United Kingdom border, a land border with the Republic of Ireland; otherwise, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. It maintains sovereignty over the British Overseas Territories, which are located across various oceans and seas globally. The UK had an estimated population of over 68.2 million people in 2023. The capital and largest city of both England and the UK is London. The cities o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
HM Treasury
His Majesty's Treasury (HM Treasury or HMT), and informally referred to as the Treasury, is the Government of the United Kingdom’s economic and finance ministry. The Treasury is responsible for public spending, financial services policy, Tax system, taxation, Infrastructure, state infrastructure, and economic growth. It is led by the Chancellor of the Exchequer, chancellor of the exchequer, currently Rachel Reeves since 5 July 2024. The Treasury's main offices are located in London and Darlington, with additional offices in Edinburgh and Norwich. It is one of the smallest government departments in terms of staff numbers, but widely considered the most powerful. 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 sto ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Executive Agency
An executive agency is a part of a government department that is treated as managerially and budgetarily separate, to carry out some part of the executive functions of the United Kingdom government, Scottish Government, Welsh Government or Northern Ireland Executive. Executive agencies are "machinery of government" devices distinct both from non-ministerial government departments and non-departmental public bodies (or " quangos"), each of which enjoy legal and constitutional separation from ministerial control. The model has been applied in several other countries. Size and scope Agencies include well-known organisations such as His Majesty's Prison Service and the Driver and Vehicle Licensing Agency. The annual budget for each agency, allocated by HM Treasury, ranges from a few million pounds for the smallest agencies to £700m for the Court Service. Virtually all government departments have at least one agency. Issues and reports The initial success or otherwise of ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
UK Government
His Majesty's Government, abbreviated to HM Government or otherwise UK Government, is the central government, central executive authority of the United Kingdom of Great Britain and Northern Ireland.Overview of the UK system of government : Directgov – Government, citizens and rights Archived direct.gov.uk webpage. Retrieved on 29 August 2014. The government is led by the Prime Minister of the United Kingdom, prime minister (Keir Starmer since 5 July 2024) who appoints all the other British Government frontbench, ministers. The country has had a Labour Party (UK), Labour government since 2024 United Kingdom general election, 2024. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Government Debt
A country's gross government debt (also called public debt or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). Government debt accounted for almost 40% of all debt (which includes corporate and household debt), the highest share since the 1960s. The rise in government debt since 2007 is largely attributable to stimulus measures during the Great Recession, and the COVID-19 recession. Governments may take on debt when the government's spending desires do not match government revenue flows. Taking deb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Public Works Loan Board
The Public Works Loan Board (PWLB) () was a statutory body of the UK Government that provided loans to public bodies from the National Loans Fund. In 2020, the PWLB was abolished as a statutory organisation, and its functions were allocated to HM Treasury, where they are discharged through the UK Debt Management Office. The members of the PWLB were known as the Public Works Loan Commissioners. History Exchequer Loan and Bill Commissioners Originally known as Exchequer Loan Commissioners, the Public Works Loan Commissioners were first appointed as an ad-hoc body in 1793 to alleviate commercial distress resulting from the trade recession which followed the French Revolutionary Wars. In 1817 another single purpose body of commissioners, known as Exchequer Bill Commissioners, were appointed to provide relief following the Napoleonic Wars. They were to receive "no fee, reward or emolument or gratuity whatever" and their task was to consider applications in respect of any works of a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Commissioners For The Reduction Of The National Debt
The Commissioners for the Reduction of the National Debt (CRND) is a statutory body of the UK Government, whose main function is the investment and management of government funds. The current Comptroller General is Jo Whelan. History The CRND was established by the ( 26 Geo. 3. c. 31), and was originally a non-ministerial government department. The 1786 act provided that the Commissioners were to be the Speaker of the House of Commons, the Chancellor of the Exchequer, the Master of the Rolls, the Accountant-General of the Court of Chancery and the governor and deputy governor of the Bank of England. The Life Annuities Act 1808 provided that the Chief Baron of the Court of Exchequer (or, in his absence, any of the Barons of the Court of Exchequer) was also to be a Commissioner; the Chief Baron was replaced by the Lord Chief Justice by the Supreme Court of Judicature Act 1881. The Paymaster General replaced the Accountant-General of the Court of Chancery by virtue of the Court ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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] [Amazon] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the Kingdom of England, English Government's banker and debt manager, and still one of the bankers for the government of the United Kingdom, it is the world's second oldest central bank. The bank was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. In 1998 it became an independent public organisation, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. In the 21st century the bank took on increased responsibility for maintaining and monitoring financial stability in the UK, and it increasingly functions as a statutory Financial regulation, regulator. The bank's headquarters have been in London's main financial di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
United Kingdom National Debt
The United Kingdom national debt is the total quantity of money borrowed by the Government of the United Kingdom at any time through the issue of securities by the British Treasury and other government agencies. At the end of March 2023, UK general government gross debt was £2,537.0 billion, or 100.5% gross domestic product. Approximately a third of the UK national debt is owned by the British government due to the Bank of England's quantitative easing programme, so approximately a third of the cost of servicing the debt is paid by the government to itself. In 2018, this reduced the annual servicing cost to approximately £30 billion (approx 2% of GDP, approx 5% of UK government tax income). In 2017, due to the Government's budget deficit ( PSNCR), the national debt increased by £46 billion. The Cameron–Clegg coalition government in 2010 planned that they would eliminate the deficit by the 2015/16 financial year. However, by 2014 they admitted that the structural deficit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Organisations Based In The City Of London
An organization or organisation (Commonwealth English; see spelling differences) is an entity—such as a company, or corporation or an institution (formal organization), or an association—comprising one or more people and having a particular purpose. Organizations may also operate secretly or illegally in the case of secret societies, criminal organizations, and resistance movements. And in some cases may have obstacles from other organizations (e.g.: MLK's organization). What makes an organization recognized by the government is either filling out incorporation or recognition in the form of either societal pressure (e.g.: Advocacy group), causing concerns (e.g.: Resistance movement) or being considered the spokesperson of a group of people subject to negotiation (e.g.: the Polisario Front being recognized as the sole representative of the Sahrawi people and forming a partially recognized state.) Compare the concept of social groups, which may include non-orga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
