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British Political System - Coggle Diagram
British Political System
National, Devolved and Local Government
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The Economy, Money and Finance
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Inflation Strategies
Inflation is below 2%
Bank of England lowers interest rates on loans, mortgages, etc...
People repay less for borrowing due to lower interest rates, and saving becomes less popular again due to lower interest rates meaning that people get less back from a savings account, and therefore have extra money to spend
The spend this extra money, moving more money into circulation and the economy, increasing inflation
Inflation is above 2%
Bank of England raises interest rates on loans, mortgages, etc...
People repay more when borrowing due to higher interest rates, and therefore are discouraged from borrowing and save more in savings accounts, again due to the interest rates being heightened and therefore making saving more valuable
This helps to take money out of circulation and the economy, therefore lowering inflation
Tax Statistics
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Excise duty
Tax paid on fuel, tobacco and alcohol
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Other government income
Vehicle excise duty, tax on home purchase, inheritance tax and income from government activity, loans and investments
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The British Constitution
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Codified/Uncodified
Codified constitution is written in a single document (E.G, the U.S.A)
Uncodified constitution is based on a variety of customs, statutes, judicial decisions and agreements. It is not written in a single document. (E.G, The U.K)
Benefits: Can limit the overall power of an individual in power due to increased scrutiny and increased flexibility
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Roles in Parliament
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Official Opposition
Second largest party in the house, have Shadow Ministers
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