United Kingdom

The United Kingdom has historically played a leading role in developing parliamentary democracy and in advancing literature and science. At its zenith in the 19th century, the British Empire stretched over one-fourth of the earth's surface. The first half of the 20th century saw the UK's strength seriously depleted in two World Wars and the Irish republic withdraw from the union. The second half witnessed the dismantling of the Empire and the UK rebuilding itself into a modern and prosperous European nation. As one of five permanent members of the UN Security Council, a founding member of NATO, and of the Commonwealth, the UK pursues a global approach to foreign policy. The UK is also an active member of the EU, although it chose to remain outside the Economic and Monetary Union. Devolution and constitutional reform have been significant recent issues in the UK. The Scottish Parliament, the National Assembly for Wales, and the Northern Ireland Assembly were established in 1999, but the latter was suspended until May 2007 due to wrangling over the peace process.
== Economical characteristics ==
* Currency: Pound sterling (ISO code: GBP)
* Central bank discount rate: 0.86% (31 December 2008)
* Commercial banks lending rate: 4.63% (31 December 2008)
* Stock of money (M1): $NA
* Quasi money (with M1 makes M2): $NA
===Statistics===
Statistic / Year 	1999 	2000 	2001 	2002 	2003 	2004 	2005 	2006 	2007 	2008
GDP (million USD)World Bank. "United Kingdom: GDP", from World Bank Data. Referenced 2010-09-21. 	1 502 560	1 477 580	1 470 890	1 612 060	1 860 810	2 198 090	2 280 180	2 435 710	2 803 460	2 674 060
Govt. debt (% of GDP)World Bank. "United Kingdom: government debt", from World Bank Data. Referenced 2010-09-21. 	47.484 	47.469 	42.507 	42.528 	42.598 	44.905 	47.300 	47.133 	47.863 	57.523
Govt. revenue (% of GDP)World Bank. "United Kingdom: government revenue", from World Bank Data. Referenced 2010-09-21. 	36.560 	37.114 	37.082 	35.498 	35.096 	35.918 	36.985 	37.708 	37.380 	38.408
Govt. expenses (% of GDP)World Bank. "United Kingdom: government expenses", from World Bank Data. Referenced 2010-09-21.	35.652 	36.204 	36.651 	37.633 	38.809 	39.200 	41.222 	40.378 	40.005 	42.827
Debt to revenue (years) 	1.299 	1.279 	1.146 	1.198 	1.214 	1.250 	1.279 	1.250 	1.280 	1.498
==References==
Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.
==External links==
* United Kingdom on Wikipedia
* Central bank of United Kingdom
* BBC country profile
* Mercantilism in England by Murray N. Rothbard, May 2010 (from [http://mises.org/resources/3985/Economic-Thought-Before-Adam-Smith-An-Austrian-Perspective-on-the-History-of-Economic-Thought-Volume-I An Austrian Perspective on the History of Economic Thought, vol. 1)
* Anarchy in the UK (and US, too)? by Jim Jubak, July 2010
* Sir Philip Green reports findings of his review into Government efficiency by Cabinet Office Press Office, October, 2010
* George Osborne announces further £7bn welfare cuts by Spending Review, October 2010
* Cuts 'tough but fair', David Cameron insists by Spending Review, October 2010
Category:Countries