United Kingdom budget

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United Kingdom budget

The United Kingdom budget in the field of Public finance

Public finance

Public finance is a field of economics concerned with paying for collective or governmental activities, and with the administration and design of those activities....
deals with HM Treasury

HM Treasury

HM Treasury, in full Her Majesty's Treasury, informally The Treasury, is the United Kingdom government department responsible for developing and executing the British government's public finance policy and economic policy....
budget

Budget

Budget generally refers to a list of all planned expenses and revenues. It is a plan for saving and spending. A budget is an important concept in microeconomics, which uses a budget line to illustrate the trade-offs between two or more good ....
ing the revenue

Revenue

In business, revenue or revenues is income that a corporation receives from its normal business activities, usually from the sale of product to customers....
s gathered by Her Majesty's Revenue and Customs

Her Majesty's Revenue and Customs

His/Her Majesty's Revenue and Customs is a non-ministerial government department Departments of the United Kingdom Government of the Her Majesty's Government primarily responsible for the collection of taxes, the payment of some forms of state support, and the detection and prevention of smuggling....
and expenditures of public sector

Public sector

The public sector is the part of economic and administrative life that deals with the delivery of goods and services by and for the government, whether national, regional or local/municipal....
departments, in compliance with government policy. The UK Public Spending from 2001 -2007 was:

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Encyclopedia

The United Kingdom budget in the field of Public finance

Public finance

Public finance is a field of economics concerned with paying for collective or governmental activities, and with the administration and design of those activities....
deals with HM Treasury

HM Treasury

Budget

Revenue

Her Majesty's Revenue and Customs

Public sector

Adjustment is achieved with the GDP deflator

GDP deflator

In economics, the GDP deflator is a measure of the change in prices of all new, domestically produced, final goods and services in an economy. GDP stands for gross domestic product, the total value of all final goods and services produced within that economy during a specified period....
. See also Economy of the United Kingdom

Economy of the United Kingdom

The United Kingdom has a capitalist economy that in 2007 was the List of countries by GDP in the world in terms of market exchange rates and the List of countries by GDP by purchasing power parity ....
and GDP per capita

List of United Kingdom nations by GDP per capita

The Countries of the United Kingdom by GDP per capita sets out the GDP per capita as as 2002 for each of the Countries of the United Kingdom as well as separate figures for the Regions of England....
by region.

Planned resource budgets 2007-08 (£ million)

Department	2007-08 (£ million)
Work and Pensions Department for Work and Pensions The Department for Work and Pensions is the largest government Ministry in the Government of the United Kingdom, created on June 8, 2001, from the merger of the employment part of the Department for Education and Employment and the Department of Social Security....	132732
Health Department of Health (United Kingdom) The Department of Health is a Departments of the United Kingdom government but with responsibility for government policy for England alone on health, social care and the National Health Service ....	104464
Education and Skills Department for Education and Skills The Department for Education and Skills was a United Kingdom government department between 2001 and 2007. It was responsible for the Education in England and children's services in England....	68060
Defence Ministry of Defence (United Kingdom) The Ministry of Defence is the Departments of the United Kingdom Government responsible for implementation of government defence policy and is the headquarters of the British Armed Forces....	38986
	30802
Communities & Local Government	28186
Scottish Government	26469
Northern Ireland Executive Northern Ireland Executive The Northern Ireland Executive is the Executive arm of the Northern Ireland Assembly, the devolution legislature for Northern Ireland. It is answerable to the Assembly and was established according to the terms of the Northern Ireland Act 1998....	14667
Home Office Home Office The Home Office is the United Kingdom government department responsible for immigration control, security and order. As such it is responsible for the police, United Kingdom Borders Agency and MI5....	13877
Welsh Assembly Government Welsh Assembly Government The Welsh Assembly Government was firstly an executive body of the National Assembly for Wales, consisting of the First Minister of Wales and his Cabinet from 1999 to 2007....	12785
Transport Department for Transport In the United Kingdom, the Department for Transport is the Departments of the United Kingdom Government responsible for the English transport network and transport matters in Scotland, Wales and Northern Ireland which are not devolved....	10150
Cabinet Office Cabinet Office The Cabinet Office is a United Kingdom government department of the Government of the United Kingdom responsible for supporting the Prime Minister of the United Kingdom and Cabinet of the United Kingdom....	10090
Trade and Industry Department of Trade and Industry The Department of Trade and Industry was a Departments of the United Kingdom Government which was disbanded with the announcement of the creation of the Department for Business, Enterprise and Regulatory Reform and the Department for Innovation, Universities and Skills on 28 June 2007....	6015
Culture, Media and Sport Department for Culture, Media and Sport The Department for Culture, Media and Sport is a department of the United Kingdom government, with responsibility for English culture and Sport in England in England, and some aspects of the media throughout the whole UK, for example broadcasting....	5042
International Development Department for International Development The Department For International Development is a United Kingdom government department, the function of which is "to promote sustainable development and eliminate world poverty"....	4772
Ministry of Justice Ministry of Justice (United Kingdom) The Ministry of Justice has been a department of the Her Majesty's Government since 2007. It was created on 9 May 2007 by merging the Department for Constitutional Affairs with parts of the Home Office responsible for criminal justice policy, sentencing policy, probation, prisons and prevention of re-offending in England and Wales....	4086
Environment, Food and Rural Affairs Department for Environment, Food and Rural Affairs The Department for Environment, Food and Rural Affairs is the United Kingdom government department responsible for environmental quality protection, food production and standards, agriculture, fisheries and rural communities in the United Kingdom....	3099
Foreign and Commonwealth Office Foreign and Commonwealth Office The Foreign and Commonwealth Office, commonly called the Foreign Office or the FCO, is the Departments of the United Kingdom Government responsible for promoting the interests of the United Kingdom overseas, created in 1968 by merging the Foreign Office and the Secretary of State for Commonwealth Affairs....	1859
Northern Ireland Office Northern Ireland Office The Northern Ireland Office is a United Kingdom government department responsible for Northern Ireland affairs. The NIO is led by the Secretary of State for Northern Ireland, currently Shaun Woodward MP supported by Paul Goggins MP....	1370
Law Officers' Departments Law Officers of the Crown The Law Officers of the Crown are the chief legal advisors to the the Crown, and advise and represent the various governments in the United Kingdom and the other Commonwealth Realms....	718
	600
	400
Total resource budget	519229

Criticism

In 2006 the "Big Four
Big Four auditors

The Big Four are the four largest international accountancy and professional services firms, which handle the vast majority of Financial audit for Public company as well as many Private company....
" firms of international auditors plus Grant Thornton
Grant Thornton

Grant Thornton LLP encompasses the U.S. operations of Grant Thornton International, one of the largest accounting organizations outside of the Big Four ....
and BDO
BDO International

BDO International is a worldwide network of public accounting firms, called BDO Member Firms, serving international clients. Each BDO Member Firm is an independent legal entity in its own country....
recommended () public and private enterprises report performance
Viable System Model

The Viable Systems Model, or VSM is a model of the organisational structure of any viable or autonomous system. A viable system is any system organised in such a way as to meet the demands of surviving in the changing environment....
and financial statements in real-time on the web. These measures would correct the under pricing of risk, for example, which according to Gordon Brown underlies the present credit market problem. The Metaphorum
Metaphorum

The Metaphorum group was set up in 2003 to develop Stafford Beer's legacy in Management cybernetics Beer developed this discipline to explain the principles complexity management in social organizations or institutions....
group recommend the use of Stafford Beer's Viable System Model
Viable System Model

The Viable Systems Model, or VSM is a model of the organisational structure of any viable or autonomous system. A viable system is any system organised in such a way as to meet the demands of surviving in the changing environment....
for the real-time management architecture producing a risk aware "work smart, work less" culture and better value Public Services
Public services

Public services is a term usually used to mean Service s provided by government to its citizens, either directly or by financing private provision of services....
and investment
Investment

Investment or investing is a term with several closely-related meanings in business management, finance and economics, related to Saving or deferring Consumption ....
.

OECD urges "more effort to ensure good value for money
Value for Money

Value for Money is a 1955 in film British comedy film directed by Ken Annakin and starring John Gregson, Donald Pleasance, Leslie Phillips, Joan Hickson and Diana Dors....
in public spending".

HM Treasury's independent Gershon Review of Public Services "" (2004). Gershon claimed "...efficiency gains of over £20 billion in 2007-08 across the public sector have been identified and agreed" (4%). The Work Foundation
The Work Foundation

The Work Foundation is a British not for profit foundation that provides Consultancy and Research to the UK business, governmental and not for profit community....
's "Whether this challenge can be met will test the capabilities of ministers, public service employers and trade unions".

An earlier millennium Treasury suggests potential savings of 35% are possible, with an additional 17% if public service investment was as efficient as the private sector. This could eventually release £266 billion per year (£409 million per day, at 2007 prices) in tax cuts.

Gross Domestic Product

UK GDP

Gross domestic product

File:GDP nominal per capita world map IMF 2008.pngThe gross domestic product or gross domestic income is one of the measures of national income and output for a given country's economy....
from Office of National Statistics

External links

UK Budget 2008 from HM treasury: .
BBC Budget 2008 Overview
Budget 2008 Analysis for Businesses
HM Treasury and Department of Trade and Industry report on Productivity in the UK March 2006
development programme.
Accounting firms PwC
Pwc

PWC may refer to :* Personal water craft* Pratt & Whitney Canada* PricewaterhouseCoopers or PwC - a global professional services company* Prince of Wales College - a defunct university college in Charlottetown, Prince Edward Island, Canada...
, KPMG
KPMG

KPMG is one of the largest professional services firms in the world. KPMG employs over 136,500 people in a global network of professional services firms spanning over 140 countries....
, Grant Thornton
Grant Thornton

Grant Thornton LLP encompasses the U.S. operations of Grant Thornton International, one of the largest accounting organizations outside of the Big Four ....
, BDO
BDO International

BDO International is a worldwide network of public accounting firms, called BDO Member Firms, serving international clients. Each BDO Member Firm is an independent legal entity in its own country....
, Deloitte and Ernst & Young
Ernst & Young

Ernst & Young is one of the largest professional services firms in the world and one of the Big Four auditors, along with PricewaterhouseCoopers, Deloitte Touche Tohmatsu and KPMG....
call to abandon quarterly reporting in favour of real-time reporting of spending and performance on the web using XBRL
XBRL

XBRL is an open standard which supports information modeling and the expression of semantic meaning commonly required in business reporting....
. given at the in Paris November 2006.
Sunday Times May 1 2005 ""
Daily Telegraph Saturday 24 November 2007 "
- Reforming the British System of Government.