United Kingdom budget


United Kingdom budget

The United Kingdom budget [Source: [http://www.hm-treasury.gov.uk/economic_data_and_tools/finance_spending_statistics/pes_publications/pespub_pesa07.cfm#data HM Treasury UK Public Expenditure Statistical Analyses 2007] .] in the field of Public finance deals with HM Treasury budgeting the revenues gathered by Her Majesty's Revenue and Customs and expenditures of public sector departments, in compliance with government policy. The UK Public Spending from 2001 -2007 was:

:

Adjustment is achieved with the GDP deflator. See also Economy of the United Kingdom and GDP per capita by region.

Planned resource budgets 2007-08 (£ million)

Criticism

* In 2006 the "Big Four" firms of international auditors plus Grant Thornton and BDO recommended ( [http://www.cybsoc.org/CEO_Vision.pdf "Global Capital Markets and the Global Economy"] ) public and private enterprises report performance 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 [ [http://www.number10.gov.uk/output/Page14387.asp Turbulence provides opportunity for reform at World Economic Forum (2008)] ] underlies the present credit market problem. The Metaphorum group recommend the use of Stafford Beer's Viable System Model for the real-time management architecture producing a risk aware "work smart, work less" culture and better value Public Services and investment.

*OECD [http://www.oecd.org/document/40/0,3343,en_2649_34569_39354024_1_1_1_1,00.html "Economic survey of the United Kingdom 2007"] urges "more effort to ensure good value for money in public spending".

*HM Treasury's independent Gershon Review of Public Services " [http://www.hm-treasury.gov.uk/spending_review/spend_sr04/associated_documents/spending_sr04_efficiency.cfm Releasing Resources for the Frontline] " (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's [http://www.theworkfoundation.com/Assets/PDFs/efficiency.pdf response] "Whether this challenge can be met will test the capabilities of ministers, public service employers and trade unions".

*An earlier millennium Treasury [http://www.hm-treasury.gov.uk./Documents/Enterprise_and_Productivity/the_evidence/ent_prodevi_index.cfm comparative best practice study] 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 from Office of National Statistics [http://www.statistics.gov.uk/statbase/tsdtables1.asp?vlnk=pn2 "UK Output, Income and Expenditure"]

References

Links

* UK Budget 2008 from HM treasury: [http://www.hm-treasury.gov.uk/budget/budget_08/bud_bud08_index.cfm Budget 2008 Report and Statistics] .
* BBC Budget 2008 Overview [http://news.bbc.co.uk/1/hi/in_depth/business/2008/budget_2008/default.stm Special Report : Budget 2008]
* Budget 2008 Analysis for Businesses [http://www.thebusinesslounge.co.uk/index.php/budget-2008-corporation-tax-capital-gains-tax-non-domiciles/ Budget 2008 Analysis]
* HM Treasury and Department of Trade and Industry report on Productivity in the UK [http://www.hm-treasury.gov.uk./media/6/B/bud06_productivity_513.pdf Progress and new evidence] March 2006
* [http://www.wga.gov.uk/ HM Treasury Whole of Government Accounts] development programme.
* Accounting firms PwC, KPMG, Grant Thornton, BDO, Deloitte and Ernst & Young call to abandon quarterly reporting in favour of real-time reporting of spending and performance on the web using XBRL. [http://www.cybsoc.org/CEO_Vision.pdf "Global Capital Markets and the Global Economy"] given at the [http://www.globalpublicpolicysymposium.com/ Global Public Policy Symposium] in Paris November 2006.
* Sunday Times May 1st 2005 " [http://www.timesonline.co.uk/tol/news/uk/article387280.ece Government ‘hides’ billions wasted in public services] "
* Daily Telegraph Saturday 24th November 2007 " [http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/11/24/nwaste124.xml Better Government Initiative experts say billions wasted on services]
* [http://www.bettergovernmentinitiative.co.uk/da/57700 Better Government Initiative] - Reforming the British System of Government.


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