How does UK make money?
- Thread starter areksnumbr1sxylady
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It isn't lending, it's aid. :/
They also generate wealth, it's just that that wealth doesn't go back to the citizens or infrastructure.
The UK generates a hell of a lot of money, the issue is that we spend a bit more then that and all the areas that waste it have been 'ring fenced' by the government to keep the lefty liberal guardian types voting for them.
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Soldato
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[TW]Fox;24831044 said:
Pretty much this.
Financial Services is our big thing, but people forget about companies like ARM often.
kd
The UK makes a hell of a lot of money, we're incredible in that we have one of the largest economies in the world despite being a tiny island.
London is arguably the financial hub of the world and the UK is home for a large amount of the worlds top companies e.g. HSBC, Royal Dutch Shell, BP, RBS, Barclays, HBOS, BHP Billiton, Lloyds TSB, GlaxoSmithKline, Aviva, Unilever, Vodafone, Anglo American, Tesco, Prudential, AstraZeneca, Rio Tinto, BT Group, Legal & General Group, National Grid Transco.
That's just the top 20, there are thousands of companies with a worldwide presence bringing money into the UK.
Other massive amounts of money come from aerospace and defence like BAE Systems, Rolls Royce Group, GKN, then we have engineering and design like Dyson, McLaren, also the video games industry, education...the list goes on and on.
If you don't know where our money comes from that's down to your ignorance rather than British companies not being big enough or not being profitable.
edit: As for banks making money from normal people and ripping them off, you do know that retail banking is a tiny amount of revene for most banks and banking products in the UK are some of the best and cheapest in the world right? move abroad and you'll often have to pay monthly just to have a bank account, pay for online transacations, direct debits, fined when you lose your card etc. the only time I've been charged any money by my UK bank was when I supidly went overdrawn which was my own fault.
London is arguably the financial hub of the world and the UK is home for a large amount of the worlds top companies e.g. HSBC, Royal Dutch Shell, BP, RBS, Barclays, HBOS, BHP Billiton, Lloyds TSB, GlaxoSmithKline, Aviva, Unilever, Vodafone, Anglo American, Tesco, Prudential, AstraZeneca, Rio Tinto, BT Group, Legal & General Group, National Grid Transco.
That's just the top 20, there are thousands of companies with a worldwide presence bringing money into the UK.
Other massive amounts of money come from aerospace and defence like BAE Systems, Rolls Royce Group, GKN, then we have engineering and design like Dyson, McLaren, also the video games industry, education...the list goes on and on.
If you don't know where our money comes from that's down to your ignorance rather than British companies not being big enough or not being profitable.
edit: As for banks making money from normal people and ripping them off, you do know that retail banking is a tiny amount of revene for most banks and banking products in the UK are some of the best and cheapest in the world right? move abroad and you'll often have to pay monthly just to have a bank account, pay for online transacations, direct debits, fined when you lose your card etc. the only time I've been charged any money by my UK bank was when I supidly went overdrawn which was my own fault.
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^^^ Always makes me laugh when people complain at UK banks. Trying getting swiss or US bank:
pay monthly fees , pay to open an account, pay to get a checkbook, pay to replace a missing card, pay to withdraw money form an ATM, pay to transfer money, pay if their online encryption device breaks. And American banks are terrible, you walk into a branch and wait 30 minutes to get served by a high school graduate, after swiping your card proceeds to tell you it is no longer in the system so must have been closed, perhaps by the FBI.
Even a lot of credit cards you have to pay for!
EDIT: my wife in Switzerland lost her handbag and had to pay the bank to cancel the card and block the account, pay to get a new card and then pay to unlock the account again, and then pay again for the credit card. I don't think people really get how lucky they are in the UK to ave a practically free banking service where you will never have charges if you are financially responsible.
pay monthly fees , pay to open an account, pay to get a checkbook, pay to replace a missing card, pay to withdraw money form an ATM, pay to transfer money, pay if their online encryption device breaks. And American banks are terrible, you walk into a branch and wait 30 minutes to get served by a high school graduate, after swiping your card proceeds to tell you it is no longer in the system so must have been closed, perhaps by the FBI.
Even a lot of credit cards you have to pay for!
EDIT: my wife in Switzerland lost her handbag and had to pay the bank to cancel the card and block the account, pay to get a new card and then pay to unlock the account again, and then pay again for the credit card. I don't think people really get how lucky they are in the UK to ave a practically free banking service where you will never have charges if you are financially responsible.
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It's aid with lots of conditions attached
Like what, the condition we write it off in 10 years time when they're no closer to repaying any of it?
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Third world countries still have economies. Africa has huge mineral wealth.
Shame it see little of the benefits from it.
Mmm, a nice glass of diamond to wash down a lightly seared topaz en croute.
They sell the mineral rights to China in exchange for new roads (which the Chinese would have had to build anyway to get the minerals out, just like Tibet in fact).
Then they buy weapons from us (and China/Russia) to kill all the people not of their tribe, who then all emigrate to Europe.
...Meanwhile, we get a kickback from Europe for accepting every immigrant that they don't want in their countries (at least that's what Cameron said and he wouldn't lie to get elected)
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I know we invented the ARM processor back in the RISC OS days, but do we still make them? That would be a nice little earner, as that covers most phones and tablets nowadays.
Britannia used to rule the waves but now she has Dementia, has given all her money and heirlooms to begging foreigners and her big old house has been turned into a nursing home where she's cared for by immigrants who can't even speak the language.
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Forcing people to work for free.
It's only exceptionally surprising because people seem to insist that the only type of manufacturing is heavy industry steelworks and hand making cars. We don't do that anymore (much), however a significant portion of out economy is manufacturing high tech goods that need lots of skill and research, but few people (like the automated car plants). We leave the low profit, heavy industries to those that have low wages and concentrate on the high tech stuff that needs more than just labour...
I think in fact profit from manufacturing has doubled since the manufacturing "heyday", it's just as a percentage if the economy it's gone down due to the success of finance and services.
Nope. ARM don't manufacture anything they license the designs and other people build them. Usually in China. So while ARM is used in pretty much everything it's impact on the UK economy is fairly small. ARM holdings revenue was less than £600m for 2012 and that was a big year for ARM.