An Overview of Biomes and Climate

Geography is interested in how people and cultures relate to the physical environment. The largest environment of which we are part is the biosphere. The biosphere is the part of the earths surface and its atmosphere where organisms exist. It has also been described as the life-supporting layer that surrounds the Earth. The biosphere we live in is made up of biomes. A biome is a large geographical region where certain types of plants and animals thrive. Each biome has a unique set of environmental conditions and plants and animals that have adapted to those conditions. The major land biomes have names like tropical rainforest, grasslands, desert, temperate deciduous forest, taiga (also called coniferous or boreal forest), and tundra. Climate and Biomes The differences in these biomes can be traced to differences in climate and where they are located in relation to the Equator. Global temperatures vary with the angle at which the suns rays strike the different parts of the Earths curved surface. Because the suns rays hit the Earth at different angles at different latitudes, not all places on Earth receive the same amount of sunlight. These differences in the amount of sunlight cause differences in temperature. Biomes located in the high latitudes (60Â ° to 90Â °) farthest from the Equator (taiga and tundra) receive the least amount of sunlight and have lower temperatures. Biomes located at middle latitudes (30Â ° to 60Â °) between the poles and the Equator (temperate deciduous forest, temperate grasslands, and cold deserts) receive more sunlight and have moderate temperatures. At the low latitudes (0Â ° to 23Â °) of the Tropics, the suns rays strike the Earth most directly. As a result, the biomes located there (tropical rainforest, tropical grassland, and the warm desert) receive the most sunlight and have the highest temperatures. Another notable difference between biomes is the amount of precipitation. In the low latitudes, the air is warm, due to the amount of direct sunlight, and moist, due to evaporation from warm sea waters and ocean currents. Storms produce so much rain that the tropical rain forest receives 200 inches per year, while the tundra, located at a much higher latitude, is much colder and dryer, and receives just ten inches. Soil moisture, soil nutrients, and length of growing season also affect what kinds of plants can grow in a place and what kinds of organisms the biome can sustain. Along with temperature and precipitation, these are factors that distinguish one biome from another and influence the dominant types of vegetation and animals that have adapted to a biomes unique characteristics. As a result, different biomes have different kinds and quantities of plants and animals, which scientists refer to as biodiversity. Biomes with greater kinds or quantities of plants and animals are said to have high biodiversity. Biomes like the temperate deciduous forest and grasslands have better conditions for plant growth. Ideal conditions for biodiversity include moderate to abundant precipitation, sunlight, warmth, nutrient-rich soil, and a long growing season. Because of the greater warmth, sunlight, and precipitation in the low latitudes, the tropical rainforest has greater numbers and kinds of plants and animals than any other biome. Low Biodiversity Biomes Biomes with low precipitation, extreme temperatures, short growing seasons, and poor soil have low biodiversity -- fewer kinds or amounts of plants and animals -- due to less than ideal growing conditions and harsh, extreme environments. Because desert biomes are inhospitable to most life, plant growth is slow and animal life is limited. Plants there are short and the burrowing, nocturnal animals are small in size. Of the three forest biomes, the taiga has the lowest biodiversity. Cold year-round with harsh winters, the taiga has low animal diversity. In the tundra, the growing season lasts a mere six to eight weeks, and plants there are few and small. Trees cant grow due to permafrost, where only the top few inches of the ground thaw during the short summer. The grasslands biomes are considered to have more biodiversity, but only grasses, wildflowers, and a few trees have adapted to its strong winds, seasonal droughts, and annual fires. While biomes with low biodiversity tend to be inhospitable to most life, the biome with the highest biodiversity is inhospitable to most human settlement. A particular biome and its biodiversity have both potential and limitations for human settlement and meeting human needs. Many of the important issues facing modern society are the consequences of the way humans, past and present, use and change biomes and how that has affected the biodiversity in them.

Analysis Of Shakespeare s Hamlet - 1286 Words

Like a hypnotist, Shakespeare manages to entrance us in his story, drawing us deep into the world of Hamlet while simultaneously preserving the notion that â€Å"its just a play.† Instances of theatrical self-reference, or more accurately, â€Å"metatheatre,† seamlessly riddle the pages of Hamlet. Rhetorically, Shakespeare integrates words such as play, act, show, audience, stage, prologue, cue, applaud and globe to form a continuous theatrical context. Hamlet, on hearing the ghost of his father beg him to â€Å"remember me,† responds, â€Å"Ay, thou poor ghost, whiles memory holds a seat in this distracted globe† (1.5. 103-4). Upon acknowledging Hecuba’s grief, Hamlet wonders, â€Å"Have he the motive and (the cue) for passion that I have? He would drown the stage with tears†¦Ã¢â‚¬  (2.2.588-9). But metatheatre serves as more than just an additional layer of amusement; it s inherent power to blur the boundary between theatre and reality char acterizes the world of Hamlet and reinforces the notion that â€Å"All the world is a stage and all men and women merely players.† (2.7.142-3) Almost nothing in the play is as it seems. From the onset of the play, Hamlet acknowledges the disparity between appearance and reality when he quibbles with his mother’s use of the word â€Å"seems†. In his notorious â€Å"I know not ‘seems’† speech, Hamlet points out that while one may pretend to be in mourning by displaying all the outward signs of grief- â€Å"customary suits of solemn black,† or â€Å"windy suspiration of forced breath† (1.2.Show MoreRelatedAnalysis Of Shakespeare s Hamlet 959 Words   |  4 Pagesnot to â€Å"x† (An analysis of Hamlet s Soliloquy To Be or Not to Be) There are many outstanding stories that have been written by the one and only William Shakespeare, in which a soliloquy of a character is very compelling. The play Hamlet by William Shakespeare is a story in which a man kills his own brother and then marries the wife of his brother and takes the throne while he is at it. There are many secrets and no one knows that the original king was killed by his brother. Hamlet is then told byRead MoreAnalysis Of Shakespeare s Hamlet 1061 Words   |  5 PagesKylie Kwiatt Jaime Jordan Reading Shakespeare October 29, 2014 Hamlet through Feminist Lens In the play Hamlet by William Shakespeare, the character of Ophelia may be looked at and analyzed through a Feminist perspective. By using a Feminist lens, readers may observe the impact of patriarchal society and misogyny on the mind of a young lady doing her best to fit into the role of a Shakespearian-era woman. Women were expected to be virginal, yet sexual, subservient and inferior to men, and possessionsRead MoreAnalysis Of Shakespeare s Hamlet 1021 Words   |  5 Pages Ochoa1 Daniela Ochoa English Mrs. Levine 19 April 2016 Women’s Roles in Hamlet â€Å"There’s a remarkable amount of sexism on TV. When male characters are flawed, they’re interesting, deep and complex, but when women characters are flawed, they’re just a mess.† Ellen Pompeo. In â€Å"Hamlet† Ophelia and Gertrude are the only females mentioned throughout the Shakespeare’s tragic play. The two women are unappreciated and are consideredRead MoreAnalysis Of Shakespeare s Hamlet 886 Words   |  4 Pagesthe thing†¦Ã¢â‚¬  (Hamlet 2.2 .581) The meta-theatrical play The Mousetrap is central to Hamlet. The play-within-a play is a catalyst to the plot and works to illuminate character. This essay will argue that the scene places Hamlet into the role of a playwright who employs theatrical conventions in order to manipulate his audience rather than entertain. Hamlet transforms The Mousetrap play into an accusatory analogy of King Claudius. This scene also largely contrasts the playwright Shakespeare to Hamlet’sRead MoreAnalysis Of Shakespeare s Hamlet 1650 Words   |  7 Pages Duplication and repetition in Hamlet create an effect in which the core foundations of the play are reiterated and given greater attention as to resonate with the audience. Each of these duplications are binary oppositions that showcase a similar situation with opposite processes or results-- ultimately the majority of these duplications are reverberations of death in scenes that show Hamlet trying to be a hero but ending up being a villain. There are two actions in the play that are duplicatedRead MoreAnalysis Of Shakespeare s Hamlet 1510 Words   |  7 Pagesknow how they would respond to such an event. Shakespeare s play Hamlet focuses on the concept of grief and the incredible power it has to change the way a person acts. After the death of his father, Hamlet’s character is often thought to have entered a state of madness; however, many fail to see that Hamlet has feigned this madness to seek revenge on those who have wronged his father and as a way to cope with his overwhelming sadness. The actions Hamlet takes and the persona that he presents addsRead MoreAnalysis Of Shakespeare s Hamlet 1282 Words   |  6 PagesDuring this part of Hamlet, the King has just witnessed Hamlet’s play and concluded that his murderous actions are no longer a secret. Now that there are possible consequences, King Claudius feels regret for his actions and wants to be forgiven. However, he still wants to keep his priz es of being king and marrying the queen, therefore he tries to pray to be forgiven and later on devises a plan to get rid of Hamlet. James Burgh wrote the elocution manual The Art of Speaking to inform the youth ofRead MoreAnalysis Of Shakespeare s Hamlet 1406 Words   |  6 PagesAs one of the most famous and world-renowned works, Hamlet has been remade countless of times both on stage and on screen. In 2009 a modernized rendition of the brilliant play starring David Tennant as the Prince of Denmark, with Patrick Stewart as Claudius, and Penny Downie as Gertrude was released to the big screen. Set in early modern times, the clothes of this movie may have been updated, however the language remained loyal to the original text. With the significant length of this interpretationRead MoreAnalysis Of Shakespeare s Hamlet 1278 Words   |  6 PagesHamlet â€Å"To be or not to be, that is the question† Winner of four Academy Awards, including Best Picture and Best Actor, Laurence Olivier states in his famous redemption of William Shakespeare’s Hamlet, where Laurence Oliver played as Hamlet. Characters Laurence Olivier- Prince Hamlet Eileen Herlie – Queen Gertrude Basil Sydney- King Claudius (current king of Denmark) Jean Simmons- Ophelia (Polonius’s Daughter) Norman Wooland –Horatio (Hamlet’s friend) Felix Aylmer -Polonius John Laurie –FranciscoRead MoreAnalysis Of Shakespeare s Hamlet 1609 Words   |  7 Pagesechoes and expounds upon the famous â€Å"To be, or not to be† (Hamlet 3.1.56). The former quote was written by none other than Danish philosopher and poet, Sà ¸ren Kierkegaard. Born in 1813, Sà ¸ren Kierkegaard was well acquainted with Shakespeare’s text and often referred to it in his writings. When watching Kenneth Branagh’s unique, unabridged adaptation of Hamlet, it is apparent that Kenneth Branagh was able to capture how similar his Hamlet and Sà ¸ren are in character while making his mark in cinematography

Sustainable Development In Business for Sustainable Development

Question: Discuss about theSustainable Development in Business for Sustainable Development. Answer: Introduction Sustainable development has now become one of the vital components for businesses and received great response from the companies. With the changing business environment and context, the phenomenon received growing recognition, though many businesses have still not been able to grasp the concept at all. Sustainable development assists an organization to develop and adopt strategies through which it can fulfill the needs of the business as well as the stakeholders and simultaneously protecting the future needs of the company by sustaining natural and human resources. Thus, it is the responsibility of an organization to not to deplete natural resources by exploiting them in order to protect the future needs of the company. The mining companies such as BHP Billiton and Rio Tinto have been involved in exploiting of the natural resources to increase their profitability and have also caused air, water and land pollution that makes an area inhabitant for the residents. Apart from this, there are garment companies such as HM, GAP that have been accused of involving into child labor practices. Thus, the businesses must aim to develop sustainable approaches that meet the three goals of environmental protection, economic development and social wellbeing. Sustainable development is beneficial to a business and offers opportunities to the suppliers and developers who are involved in producing products that are eco friendly. The process also benefits organizations that are involved in social well being for the society. Thus, the report would present a literature review of sustainable development for a business in order to gain an insight of the various authors and scholars on the subject. The paper would try to discuss the concept and framework of sustainable development within an organization and what role do stakeholders play in environment management. This would help to understand the three pillars of sustainability that must be embedded within the objectives of an organization. Literature Review Pillars of Sustainable Development The author Murphy (2012) stated that sustainable development aims to attain balance among the three pillars of sustainability including social, economic and environmental. Social pillar has still remained ambiguous, though it has been categorized as one of the most elusive pillars of the process and the organizations have been consistently struggling to be able to balance it. The author Cuthill (2009) clearly stated that the integration of social pillar has not been justified by the companies. The authors Vavik and Keitsch (2010) are of the view that the organizations have been able to address only some of the issues that are being debated by the scholars. The authors are also of the view that the components of social pillars in sustainable development indicator sets indicate the control and authority instead of policy adherence. According to Gough et al (2008), there must be a connection between the environmental and social pillars. The author Murphy (2012) identified the four socia l concepts as public awareness, participation, social cohesion, participation and equity that are connected to the environmental aspects. The author also identified that the horizon of social pillar could be extended to include environmental, international and intergenerational dimensions. He also elaborated that the framework would also assist to gain an insight of the social pillar and its interconnectivity with the environment imperatives. The author Welford (2013), stressed on how the large organizations have responded to sustainable development. He stated that the companies are always after reducing their costs to increase their profitability that compels them to carry out unethical activities such as firing employees when not needed, hiring employees at very low wages, making them work for beyond working hour limits and other activities. Now the employees when receive this treatment and when being fired from their jobs, they tend to incline towards unethical activities that influences society at large. Corporate Social Responsibility According to Moon (2007), corporate social responsibility has a great contribution in the sustainable development of an organization, though the authors have argued that the two concepts contradict each other and are incompatible with each other. The author presented his own argument by saying that no organization would claim itself as socially irresponsible and sustainable at the same time and therefore must be very strategically aligned together. Corporate Social Responsibility was emphasized by the author that could include community participation, socially responsible employee relations and socially responsible products and processes. CSR rewards company in terms of market image, employee satisfaction, investor attractiveness and innovation. CSR has acquired a distinct position within the organization and the companies have developed specific teams to manage the CSR activities and then broadcast them through media. Further, there has been a shift in the attitude of consumers who are now demanding socially responsible products and processes from the companies. Another market driver for CSR is the awareness among the employees who are also demanding a job that ensures work life balance for the staff through ethical and concerned HR policies of the organization. Apart from market drivers, there are social drivers that are pushing the companies to adopt CSR based model and there is a consistent pressure from media attention, society at large, business investors and NGOs. Government requirement is another driver for the incorporation of CSR activities within an organization and has shown its complete support to encourage the businesses to consider the social issues at large. Thus, the author construed that for the sustainable development of an organization, the leaders must incorporate CSR activities within their companies and must focus towards attaining long term goals and objectives. The authors Kolk and Van Tulder (2010) stated that corporate social responsibility supports an organization to become economically profitable, socially supportive, ethical and law abiding. The author Kolk (2009) illustrated about the triple P concept of People, Profit and Planet in order to emphasize on social, economic and environmental aspects of corporate activity. The authors Dunning Fortanier (2007) argued that the multinational corporations have not effectively implemented sustainability and the subject needs to be introspected to gain an internal insight. The author Frynas (2008) claimed that the issues related to sustainable development could be resolved by encouraging the corporations to participate CSR activities and then creating awareness through evidence. The author Verbeke (2009) presented a different view on the subject and stated that corporate social responsibility has become significant phenomenon among the organizations and has received positive response as the co mpanies have realized that it leads to growth, profitability and long term survival. The authors Porter Kramer (2006) strongly stated that corporate social responsibility is one of the potential strategies to attain competitive advantage in the market. The authors Hall, Daneke and Lenox (2010) have strongly presented the potential future of an organization by integrating sustainable development. Entrepreneurship is considered as a solution to introduce sustainable products and processes in the market. In spite of consistent promises of enterprises regarding the sustainable development, the organizations have faced numerous challenges of uncertainty that hinders the process of incorporating sustainability. The authors identified that a large gap exists between the knowledge of scholars and practitioners that how could sustainable development help an organization to increase profitability and long term survival. The authors carried out a research to understand the reasons of existing gap and stressed on abandoning the use of non-renewable resources and increase the use of renewable resources. It was argued that environment and economy dimensions could not be placed at equal level and are separate realms. The author Robinson (2004) ar gued that sustainable development demands slowing down the pace of economic growth that is something the organizations are unwilling to do and thus, sustainable development is an oxymoron issue. The authors Balakrishnan et al (2003) further argued that sustainability contradicts the model of capitalism by stressing on the uncontrolled growth. The author Friedman (2009) suggested that sustainability brings societal transformation through innovation and is more likely to increase economic growth by creating jobs. The author Elkington (1998) also presented his view in favor of sustainable development by stating that almost every firm has a vice president level employee who is responsible for bringing sustainability within organization by using triple bottom line that takes into account the financial, social and environmental performance of the organization. The authors Clelland et al (2000) also stated that an effort towards waste reduction and substituting the resources is appreciated and represents corporate citizenship. The authors Ambec and Lanoie (2008) stated that when an organization makes an effort to take care of the environment then it is more likely to discover opportunities for increasing profitability. The authors Hall and Vredenburg (2003) on the other hand stated that sustainable development leads to creative destruction and offers opportunity for the potential entrant because of market failure. Supply Chain Management The authors Seuring and Muller (2008) have stated that an organization has several processes for production of the products that are being dispersed across the globe. It becomes the responsibility of the focal companies to take care of environmental and social concerns throughout the supply chain management process maintaining the value of the product simultaneously. The authors described focal companies as those companies that are responsible for managing the supply chain and provide customer leads. During the study, it was revealed that the garment industry that has giants players including Nike, Levi Strauss, Adidas, Benetton, CA and Disney, was involved in forced labor where workers were not only forced to work for beyond maximum working limit, rather they were also compelled to work under inhumane working conditions that could lead to their death. The authors focused on the conceptual framework that included three components: triggers for sustainable supply chain management, sup plier management for risks and performance and supply chain management for sustainable products. The triggers were identified as customer, government and stakeholder. The supporting factors were identified was management systems, company-overlapping communication, monitoring, evaluation, reporting, sanctions, training and integration. The authors construed that in order to develop a sustainable supply chain, an organization must consider broader issues to be able to perceive the overall outlook of the supply chain. Further, it was also inferred that an organization cannot ignore social and environmental dimension of the supply chain and must integrate these dimensions while formulating objectives. According to the authors Gold, Seuring and Beske (2009), a sustainable supply chain management process acts as a catalyst to develop valuable inter-organizational resources. This gives the organization an edge in terms of sustained inter-firm competitive advantage by linking the social issues with the environmental imperatives. The authors construed from the research that strategic collaboration is the key to attain inter firm competitive advantage. Strategic collaboration implies that an organization must make efforts to support its suppliers in order to build a sustainable business model that ensures social, environmental and economic performance of the product. Since sustainable business model is difficult to be imitated by the competitors because of its complexity, therefore, an organization could easily get competitive edge by aligning its objectives with the social pillars of sustainability. Stakeholder Participation The author Reed (2008) is of the opinion that stakeholders have a role to play in environmental decision making because of the complex and dynamic nature of environmental challenges. The organizations have also benefitted from the participation of the stakeholders in the decision making process, yet there has been a misconception that the stakeholders are let down when the things do not work out in planned manner. The author was able to successfully evaluate that the involvement of stakeholders in the decision making process enhances the quality of decisions as they consider each and every element of environment and follow a complex process. The author also emphasized on the eight features of best practices that could be used for stakeholder involvement. The process of stakeholders involvement should be based on trust, equity, empowerment and learning model instead of a tool kit approach that stresses on the relevant tools for the job. After thorough research and analysis, the author inferred that involvement of stakeholder should be institutionalized by reinforcing a culture that promotes negotiation of goals and the results could be uncertain. Though, it was argued that the process is very risky but if it is constructively designed then the perceived risks could be eliminated. Conclusion The paper has thus successfully minutely observed the significance of sustainable development in business. Sustainable development is an important component of any business that leads to long term survival of the business and also addresses the social, economic and environmental dimensions. Social, economic and environmental were identified as the three pillars of sustainable development. The previous research and investigations presented a contradictory statement on sustainability as some of the scholars still viewed sustainable development as a hindrance to the growth and profitability of the business. Thus, the enterprises were still found to go through a hard time to be able to completely grasp the concept of sustainability in an organization as it reduced their growth and profitability. Further, corporate social responsibility was identified as an increasing activity among the organizations and its contribution to the growth of an organization was found to be quite imperative. T he market drivers assessed for corporate social responsibility were government, social, customer demand and globalization. Thus, an organization is always under constant pressure to incorporate sustainable practices within its system. Supply chain management is a process that needs to be emphasized by the organizations to integrate with sustainable activities in order to eliminate unethical practices from the society. The participation of stakeholders was also evaluated as an essential element as it leads to quality decision for an organization. References Ambec, S., Lanoie, P. (2008). Does it pay to be green? A systematic overview. Academy of Management Perspectives 22 (4), 4562. Balakrishnan, U., Duvall, T., and Primeaux, P. (2003). Rewriting the bases of capitalism: reflexive modernity and ecological sustainability as the foundations of a new normative framework. Journal of Business Ethics 47 (4), 299315. Clelland, I.J., Dean, T.J.,and Douglas, T.J. (2000). Stepping towards sustainable business: an evaluation of waste minimization practices in US manufacturing. Interfaces 30 (3), 107124. Cuthill, M. (2009). Strengthening the social in sustainable development: developing a conceptual framework for social sustainability in a rapid urban growth region in Australia. Sustainable Development,18(6), pp. 362373. Dunning, J. H., and Fortanier, F. (2007). Multinational Enterprises and the New Development Paradigm: consequences for host country development. Multinational Business Review, 25(1), 25-45. Elkington, J. (1998). Cannibals with forks: the triple bottom line of sustainability. Environmental Quality Management8(1), 37 51 Friedman, T.L. (2009). Have a nice day. New York Times. Frynas, J. G. (2008). Corporate Social Responsibility and International Development: Critical Assessment. Corporate Governance, 16(4), 274-281. Gold, S., Seuring, S. and Beske, P. (2010). Sustainable supply chain management and inter?organizational resources: a literature review.Corporate social responsibility and environmental management,17(4), pp.230-245. Gough, I., Meadowcroft, J., Dryzek, J., Gerhards, J., Lengfeld, H., Marandya, A., and Ortiz, R. (2008). JESPsymposium: climate change and social policy.Journal of European Social Policy18(4), pp. 325344. Hall, J., Vredenburg, H. (2003). The challenges of innovating for sustainable development. Sloan Management Review 45 (1), 6169. Hall, J.K., Daneke, G.A. and Lenox, M.J. (2010). Sustainable development and entrepreneurship: Past contributions and future directions.Journal of Business Venturing,25(5), pp.439-448. IISD. (2017). Sustainable Development. IISD. Available at: https://www.iisd.org/topic/sustainable-development [Accessed Online 10 May 2017]. Kolk, A. (2009). Trajectories of sustainability reporting by MNCs. Journal of World Business. Kolk, A. and Van Tulder, R. (2010). International business, corporate social responsibility and sustainable development.International business review,19(2), pp.119-125. Moon, J. (2007). The contribution of corporate social responsibility to sustainable development.Sustainable development,15(5), pp.296-306. Murphy, K. (2012). The social pillar of sustainable development: a literature review and framework for policyanalysis. Sustainability: Science, Practice Policy, 8(2). Porter, M. E., and Kramer, M. R. (2006). Strategy society. The link between competitive advantage and corporate social responsibility. Harvard Business Review, 84(12), 78- 92. Reed, M.S. (2008). Stakeholder participation for environmental management: a literature review.Biological conservation,141(10), pp.2417-2431. Robinson, J. (2004). Squaring the circle? Some thoughts on the idea of sustainable development. Ecological Economics 48, 369384. Vavik, T. Keitsch, M. (2010). Exploring relationships between universal design and social sustainable development: some methodological aspects to the debate on the sciences of sustainability.Sustainable Development18(5), pp. 295305. Welford, R. (2013).Hijacking environmentalism: Corporate responses to sustainable development. Routledge. Seuring, S., and Muller, M. (2008). From a literature review to a conceptual framework for sustainable supply chain management. Journal of Cleaner Production, 16, pp. 1699-1710.

The Report of the UK Government’s Spending and Revenue Plans

Question: Write a report outlining the current state of the UK governments spending and revenue plans? Answer: Introduction The national income accounts give the insight of all economic activity within the union territory of UK. These activities include both domestic and external activities which has been influencing the countrys economy. These all accounts are being fully integrated which helps in transparency within its approach and also shows the entire spending of the funds which has been paid by the individuals and the company for which the government is accountable. Most of the well known economic statics are given in the national accounts such as GDP, GNP, Public sector borrowings ratio and Balance of trade etc (Geroski and Gregg, 1997). The study deals with various areas of the national accounts of the UK that also includes before and after recession country performance. Apart from that, the study will also highlight the issues and reason for investment high in various sectors. The national income is being made in the line of internationals standards which is ESA 29 (Hartwick, 2000). 1.The principles of National accounts of UK Institutional sectors: In order to bring the transparency on the accounts certain key analysis based on which various institutional sectors are grouped into number of manufacturing unit along with who own and controls them. Some of the major sectors and sub sector are given below: Financial corporations GDP Institutional sector accounts NON financial corporations Production approach Production accounts General government Expenditure approach Generations of income Household Income approach Allocations of primary income accounts NON profit institutions Distribution of income statements serving household Use of disposal income Rest of the world Balance sheet The annual trade of the country = (net exporting)+ importing at (current market prices) of 2002 to 2012 shows that fluctuations within the economy because of recessions in 2007-2008 which has severely hit the country trade (Higgins, 2013). Between 2002-2012 the UK has been consistency running a trade deficit. In 2013, the trade deficit in the current process was 33.9 billion. This shows that, country has been able to increase its net trade by 45.7% from 23.3 billion in 2011(www.ons.gov.uk, 2015). The rest of the world performance in 2008 is poor in compare to the UK trade deficit. In the recent interviews conducted by the BBC news, British Prime Minister Mr. David Cameron has addressed that, His government is paying the Britains debt. This allegation has come after the resolution of budget cut in the NGO sector and reduces in the Military budget. Apart from that other member of the members of his group Chancellor George Osborne has also claimed that deficit has been reduced by 1/3rd since the party came in to the power (www.bbc.com, 2014). 2. Relationship between the budget deficit and public debt Debt here refers to amount of money borrowed by the UK government for maintaining the national security. This debt has been result of many year of unwanted borrowings by the past government. In UK the debt is calculated total debt less government liquid asset (Humphries, 1996). As the chart below shows the debt has increased in the recent year which is to double has double the existing borrowings to 1trllion in past 6 years. This has been increased due to large financial crisis and resulting into recessions. In order to assess the debt percentage with the total output, debt to GDP ratio will give an actual debt and expenditure of the government. The debt to GDP ratio is been rise since 2007-2008 (Iley and Lewis, 2007). Since 1974, there has been eight years when the treasury of UK has ended the year in the black. The GDP of Britain is very much shows the deficit during the financial crisis which jumps from the 109pc in 2009 to 10.1 pc a year later (www.ons.gov.uk, 2015). 3. Current UK national debt numbers Year Gross national debt (, trillion) 2008 0.53 2009 0.62 2010 0.76 2011 0.91 2012 1.10 2013 1.19 2014 1.26 Graph 1: GNP debt of UK (Source: Jenkins, 2013, pp-125) Government spends lesser than it receives will given the government budget surplus. During the time of 1998-2001, UK has four straight year of surplus. As matter of fact, country had huge amount of surplus in the between the year 1947-1974. However, since 2000 to till date government is facing huge deficit, it is because of overspending. As per the latest figures newt borrowings was 15.4 billion in December 2012 (Jenkins, 2013). This shows 0.6 billion higher than December 2011 which was 14.8 billion only in public sector unit. Deficit in public sector unit was 13.0 billion in December 2012; this shows 0.5 billion increase in deficit from 2011 (Parker, 2011). This is because one of the overspending payments recorded as part of the Royal pension plans transfer. In 20213, economic activity as measured of GDP suggest that, it was 1.7% higher than 2012, compared with growth of 0.7% in the previous year. In 2008 the GDP was fell by 0.3% and fell again in 2009 by 4.3% because of the financi al recessions (www.theguardian.com, 2014). However, the recovery of GDP by 1.9% in 2010 was one of the positive sign for the UK economy. Financial year Current budget surplus/deficit (million, ) Net debt as a % of GDP 1998 10,427 40.3 1999 10,891 39.9 2000 12610 40.6 2001 12,476 29.7 2002 12,144 30.8 2003 -12,367 32.2 2004 -17,720 33.9 2005 -14,476 35.1 2006 -7236 35.8 2007 -7,491 43 2008 -37,553 150.4 2009 -86,756 153.6 2010 -76,219 149 2011 -64,217 141 2012 -74,064 140.3 Graph 2: Current deficit of UK (Source: Wanna et al. 2010, pp-259) From the above graph, it has been found that UK national accounts shows that, country overspending in defence and household has incurred company financial deficit. Since 2007-2008 was the bad phase of the world economy, sparing the 2008, country defence arises from 2003- till date (Simon and Proops, 2000). As the UK is known as the power economy in worldwide, country has been not been able perform as per its potential. Some of the major issues of for the increase in the deficit in UK are as given below: 3.1 Issues within the UK economy Consumer spending is lowered: When there is failing prices, this often encourages people to delay in the purchase of products and services because of the cheaper products and services. Apart from that, high deflations is another major issues in UK, sometimes it discourages the consumers to buy the luxury goods because most of the consumer feels by waiting for it would be decrease in price of the products (Pettinger, 2012). Therefore, period of deflations crates lower consumer spending which resultants in to reduce in the lower economic growth. Increase in real value of debt: Other major reason is increase in real value of money and the real value of debt. One of the major reason that government UK is not able to pay off its debt is because of the rise in the value of money which increasing the deficit and borrowings. Consumer s and forms are not been has to pay higher amount of disposable income on meeting the debt repayments (Rowley et al. 2002). This leaves the country for less money for spending and investment. This is also known as the balance sheet recession because half of the money is paid of in debt interested. There is huge problem in Europe as to exposure to debt is higher which making very much difficult to reduce its debt to GDP ratios (Felstead et al. 2012). Increased in real interest areas: Rise in the interest from the year 1999-2012 has been one of the major headaches for the Cameron government to control the deficit. If the deflation is of 2%, this earns the government has real interest rate of +2%. In other words saving money gives the country reasonable returns. Therefore, real interest rate has tightened the monetary policy of UK (Gregg and Wadsworth, 2010). This is particularly a problem majorly in Euro ozone nations which do not have any other monetary policy for examples like Quantities easing. However, UK has been lead to lower growth and higher unemployment during time if 2008 recessions period to 2014 (Ukpublicspending.co.uk, 2015). Wage rate unemployment: As the real wage rate in UK labour market show the sticky Wages. Particularly, worker resist nominal wages cuts especially when the people are use to annual pay increases ever year. Therefore during the time of recession, most of firms including government nations have decreased the real wages which has increases the unemployment in Europe which is major concern for the rise in the budget deficit (Hodson, 2011). Rise in the inflation rate since 2008 was rise by 4.05% which has now become 1.3% in October 2013 has made people to control in its spending which again tends the government to invest to increases the job opportunity to reduce the problems of the inflation within the nations (www.ons.gov.uk, 2015). 4. Impact of debt on GDP (Gross Domestic Products) of UK The GDP of the UK shows the slow growth of GDP but steady by 0.2% in 2012. The total expenditure has been very much invested in the right sector and components (Kaiser, 2011). There has been six equal component out of six were split into three negative and three positive contribution which enables the public to analyse the expenditure done by the government. Components Million Percentage points Household and NGOs 10201 70% General government expenditure 9357 60% Gross fixed capital 1056 10% Change in inventories -5204 -30% Net trade -9326 -60% Other -3523 -20% Total 2561 20% From the above, it has been found that, country has spent more in household expenditure and NGO with 10201 million. Country ahs net trade or export is in less than 3523 for -0.2%. There has been rise in the goods final expenditure which shows that, country consumption expenditure on final sue of goods and services produced and imported by the UK in 2012 (Kersting, 2008). Export of goods and service of the country shows that, 23.5% growth. 16.30% is being spent by the general government final consumptions (www.ons.gov.uk, 2015). Graph 3: Gross final expenditure of UK (Source: Mody and Sandri, 2012, pp-201) In 2002, there was similar kind of patterns household and nonprofit institution serving the households which was accounted for more than 51% of gross final expenditure which is followed by the exporting of products and services with 20.1% (Mody and Sandri, 2012). The gross final expenditure approaches various measures to extricate the over production of productions. From the national statics of the UK, it has been seen that, most of the companies are being using new and innovative products to sell the customers. Apart from that, in 2013, most of the corporation like British telecom and other major companies has done exceptionally well which gain brought the lots of advance tax to the country which was fruitful for the managing the deficient (www.ons.gov.uk, 2015). GDP at market prices from the year 1995 has changed the economic policy of the UK. Years Current market prices 1995 723080 1996 768905 1997 815881 1998 911945 2000 958931 2002 1055793 2003 1118245 2006 1299622 From the above, it has been found that, GDP at current prices are being approached as per the expenditure which shows that country is progressing before the time of recessions. Apart from that the output and volume measures of VAT shows around 80% of the total of the productions. the national accounts of the UK is much transparent and much clear which can be read and understand by the layman (Thompson, 2005). During the time of 2007-2008 worlds has hit by the strong financial crisis which also has affected the country as whole along with its WPI and CPI. The blue book of 2008 represents the financials history of UK and its spending and its surplus/deficit within the existing form of economy (Pettinger, 2012). 5 .Government spending and revenues from the taxations Spending 2013 (,Billion) Pension 31 Health care 140 Education 98 Defence 38 53Transport 23 Public sector safety 32.02 Debt interest 53 Industry , agriculture and employment 17 Social protection 222 Others 53 Total 707.02 Graph 4: UK government expenditure (Source: Kaiser, 2011, pp-342) Category %1 Compensation of employees 51.2 Corporations' gross operating surplus 21.7 Other income 2,3 14.8 Taxes less subsidies 12.3 As per the latest figures given above, UK has been one place down to be first highest spender in defence in world behind united states and US, China, Germany and Russia (Tomes, 2003). However, protection from the budget cuts in last tow budge has made the UK to reach at second positions however, France is shift to the sixth largest spender. Apart from that, as noted by Thompson (2005), when it come s to educations, the department of UK current government has risen the investment in the educations from 90 to 98 billion. A capital budget of 7.2 bn in 2010 -11 was less because of the affect of recession on economy. However, the overall spending with budget has been fall as the inflation has decreases the educations budget as per the UK National accounts (Mody and Sandri, 2012). Apart from that, economic has spend major cash in the transport projects for which gain huge amount loan has been passed to the private sector in order to boost the private sector economy. The home and office ministry of Justice has invested more than 30 billion in maintain public safety for which the rise the recruitment of police force has been one of the major step taken by the government in order to maintain the safety and security within the nations (Ukpublicspending.co.uk, 2015). Besides that, health care services have eaten more than 140 billion investment because of rise in the health issues. NHS get more than 114 billion for opening more of hospitals (Kersting, 2008). However, country is bee severally suffered from the high debt interest which because of huge borrowing of more than 1 trillion. The interest this is been low because of rise in the GDP rates in December 2013. Government earnings Government earnings 2013 (,Billion) VAT 111 Corporation tax 41 National insurance 110 Business rates 27 Income tax 167 Excise duty 47 Council tax 27 Others 118 Total 648 Total deficit= total earning total expenditure =648-707.02 Final deficit of 2013 =59.02 billion Graph 5: UK Government earnings of 2013 (Source: Hodson, 2011, 232) One of the major earnings is from the excise duty which has been rise from the by 1pc by the government of Excise. This rise in duty has increased the earnings of the government by 2%. Rise in the excise duty of beer by 1.08% and wines and spirits has also been risen up. Income tax is the biggest elements of government taxes receipts; income tax was expected to be the benefit from the rise of the employments (Kaiser, 2011). As the corporation tax has been risen by 9% of total tax receipts. Corporation tax income has come down by 28% r 21% from the year in 2014. This shows that, country is not being able to motivate the new promoters to open new business. One of the biggest incomes of British economy comes out of income tax which is 167 billion (www.theguardian.com, 2014). 6. UK Government spending and revenues after and before the financial crisis As per the report of IMF , it has been found that, Britain was running structural deficit with 5.2 pc in 2007. By using the various measurement amounts by which the public borrowings exceeds tax revenues by considering the external factors (Felstead et al. 2012). Britain entered into the global financial crisis in worsts positions than the other developed nations. Before the financial crisis country position was better than before the financial crisis because of the country growth rate was increased by 11.09% per year though there was deficit. However, country has been was overspending in the unnecessarily without keeping on the tabs of the performance (Wanna et al. 2010). This has increased the country debt and increase in deficit. The scale of bank losses due to housing bubble in US has made more difficult for the banks to borrow money on money markets. Some of the major banks were running out of money in several nations such as UK, Ireland and Cyprus (www.ons.gov.uk, 2015). After deficit country started prioritizing of the expenditures to sustain the future economic growth and poverty reduction of UK. One of the good news is that UK has stop taking everything for granted , country has going for safety nest , protecting social spending through loans and harnessing the crisis to achieve major reforms that will help to improve the efficiency and quality (Rowley et al. 2002). On the other hand, company started on core spending techniques by making growth plan by implementing Keynesian approach within the economy with modernizing the versions. Decline in spending ahs growth rates is due to crisis risk settings bank achievement of human development goals. As per the World Bank analysis that found that financing shortfalls to cover risk spending on health, educations, safety and infrastructure with amount of more than 247 in these areas as compare to other areas (Iley and Lewis, 2007). As per the CNN report, BOE (Bank of England) has announced that, growth rat es would slowly and steadily overcome the recession. Bank is keeping tab and eagle eye on the performance of domestic market of UK. In the three month ending in June, chances of rise in the GDP by 0.9%. UK is now looking for the strong fiscal policy and policy to control the inflations and the recessions rate. Apart from that, government has also asked the apex banks like BOE to reduce the CRR rates from 5% to 0.5% would make the borrowings for the new industries and aspires the promoters to open new business (Jackson, 2000). The recession has harmed spherically those nations who are much dependent upon the stamp duty and tax from the finance sector was US and UK. UK introduces a temporary cut in the VAT after the recession period (Higgins, 2013). 7. Comparing UK economy with rest of the EU All European nations members states that, their latest deficit and debt are reviewed twice a year. As per the latest financial report of IMF, it has been found that, USA structural deficit was by 3.35pc, France was 3 pc and Germany was 1.1pc in compare to structural deficits which was 5.2 pc. GDP growth rate during and faster the recession of UK and other Eu nations Countries GDP 2007 GDP 2008 GDP 2009 GDP 2010 GDP 2011 UK 0.6% -1.8% -0.91% 2.6% 3.7% France 1% -0.2% -1.8% 0.2% 1.2% Germany 0.4% -0.5% -0.3% 2.5% 2.85% Italy 0.3% -2.4% -0.45% 2.2% 1.98% Portugal 0.02% -2.2% -0.67% 1.03% 2.02% US 0.8% -2.7% -0.91% 1.10% 3.07% Graph 6: GDP rates of UK and other EU nations before and after recessions (Source: Jenkins, 2013, pp-558) The outputs lost during the recession will not be able to manage the loss of the nations in coming years. From the above, it ahs been found that, UK recession was longer than other nations like France and Germany excluding PIGS nations form the Europe (Martin, 2007). The latest news is that EU treasury is looking to forecast the growth between 1% and 1.5% in 2010 for UK. However, the latest average the forecast suggest that, GDP may return the pre recession level in the second d quarter of UK , France , Germany and the US in 2012 (Felstead et al. 2012). However, some of the powerful economic nations like Japan was 8.7% of GDP and Italy was 6.9% , Germany with 6.4% has suffered greater loss in GDP that UK. Both Italy and Portugal has been faced tough situation because of the negative growth. Euro zone nations economic are facing tough to survive in the competitive environment. With the help of spending by the various nations shows that how euro zone are faring in compare to the other nations. Years 2010 2011 2012 2013 Germany -0.1 0.5 0.3 0.2 France 0 0 -0.1 0.2 Italy -0.7 -0.8 -0.7 -0.2 Spain -0.5 -0.3 -0.4 -0.3 Netherland -0.6 0.2 0.1 -1.1 Portugal -1.4 -0.1 -1.1 -0.8 UK -0.4 -0.3 -0.4 1 Graph 7: Production and investment of government during the time of economic crisis (Source: Kersting, 2008, pp-172) From the above, it has been found that most of the Euro nation are not willing consumer are spending higher than UK in both households and Government projects. Germany GDP grew by 4.2% in 2011 and 3% in 2012. Among the 17 euro nations, Germany is one who escapes worst effects of the crisis that has been treated to untangle the bloc (Mody and Sandri, 2012). However, UK government last month has announced to economic growth of 213 will be 1.6% to 1% blaming the reduction on the Euro zone crisis and weaker economic growth in the Asian and Latin American nations. Apart from that, Netherlands is shrinking by 1.1% in its third quarter of production and investment areas (Tomes, 2003). As compare to other developed nations of EU and Asia pacific, UK is perfuming well but it is not performing as per its potential because of huge amount debt and interest is needed to paid to the IMF and the Nationalized banks. Conclusion From the above study, it has been found that, there has been ample evidence which shows that, UK Economy has been stronger in terms of its fiscal policy and economic policy. Apart from that, country was also hit strong by the economic crisis of 2008 because of its economic policy in compare to its rival nations like US and France. However, country is strongly suffering from the debt to GDP ratio which is negative. As the defect is because of the overspending in the defence and the Social protection areas which again cost the educations and the health care. 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