How might government debt reduction plans affect Bury Sports Ltd Essay

How might government debt reduction plans affect Bury Sports Ltd - Essay Example The UK public sector budget deficits, which are recorded since 2002-03, have already reached at the level of  £6.0 billion in February 2010, more than double in comparison with its previous year level. Net capital borrowing has increased almost one and half times more to  £12.4 billion than its previous year level. As a percentage of GDP the net public sector debt of the UK government has touched to 60.3 per cent in February, 2010, a 10 scale higher than the level of February, 2009. At the end of February, 2010 the net debt also has increased to  £857.5 billion from a level of  £712.4 billion in February 2009. Net public sector borrowing has also jumped to  £49.4 billion from the level of  £ 32.4 billion, at the end of the third quarter of 2009-10. Excluding the financial interventions, the public sector net debt has risen to  £741.6 billion by the end of February, 2010 from the level of  £596.9 billion which was seen in February, 2009, exactly before one year. (Month ly:  £6.0bn budget deficit, March 29, 2010; Tanweer, Thompson, n.d.). Keeping these issues in mind the government has taken a deficit reduction strategy. This set the path to Mr. Alistair Darling, Chancellor of the Exchequer to take an aggressive decision towards the reduction of debt. The government has planned for high cuts in its public spending over the coming two years. Mr. Darling intends to reduce the general government spending excluding capital investment, interest on debt and social welfare costs by almost 1.5 per cent and 2 percent in 2011 and 2012 respectively. (Fiscal Responsibility Bill, 2009-10, pp. 1-3). With the outlook of bringing the budget back into balance within 2017 financial year, the government would like that its budget deficit as a percentage of GDP may fall to almost the half level of the present year standard. With the

What dominates the relationship between the Mideast and the Western Essay

What dominates the relationship between the Mideast and the Western powers - Essay Example the worlds that are endowed with a lot of natural resources wealth, especially the oil deposits, which then make it one of the strategic sources of petroleum globally. In this respect, the resource question dominates the relationship between the Mideast and the Western powers, since despite the fact that the two ends of the world have major differences regarding the political, social and economic orientations, the Western powers must keep cooperating with the Middle East as a major source of raw material for their economy (Bew, n.p.). Thus, despite the fact that there is a high degree of violation of the human rights and other democratic principles that are held in high esteem by the Western powers, they still find it necessary to keep a cordial relationship with the Middle East, for the sake of continued benefit from the oil resource. It is even difficult to imagine what would happen should the Middle East severe its relationship with the West, since there would be a dire shortage o f the oil resource to the West, which is a major driving force for the Western powers’ economies. Market is yet another major factor that dominates the relationship between the Mideast and the Western powers. The Middle East offers a huge market for the Western Powers products on top of producing essential raw materials for those economies, such that trade with the Middle East is a fundamental determinant of the Western Powers dominance in global economy (Hourani, 45). During the World War II, the USA stationed its troops in Iran so that the troops would protect the Iranian oil deposits from being exploited for the advantage of the USSR (Fawcett, 102). Since then, the interest in the Middle East oil resource has informed the relationship between the western powers and the Middle East. In this respect, the Western powers have formulated their foreign policies such that they still reflect a cordial relationship with the Middle East, even when the middle East countries are advancing