The new economy stimulate plan新的经济刺激计划
Under this background, 6 May 2010, the United Kingdom general election of 2010 got the result, Conservative Party became the first party in parliament and they made a coalition with liberal democrat which led by Nick Clegg. David Cameron, the leader of Conservative Party assumed the prime minister in UK. On 22 June, 2010 Chancellor George Osborne announced the first Budget based on the Government’s values of responsibility, freedom and fairness20. In this plan, the urgent target is to fix the unbalance UK economy, but most debatable provision is VAT rate will rise from 17.5% to 20% from January 4, 2011, although the intention of Conservative is increase the revenue20. On the contrary, it represent that British people need to pay more tax than before, and the UK commodity will lose competitiveness as well, because the higher price. In other part like council tax and capital gain tax both have different growth rate; however, in the government spending like child benefit and house benefit will decrease in the next 5 years21. As mentioned above, the new allied government eager to pull out the fragile UK economy from serious fiscal deficit mud. I can’t and want not to say who will obtain benefit from this budget, but one thing I can define are British people will spend an arduous 5 year. As Baroness Williams said: We're in 'one hell of a mess’.在此背景下,2010年5月6日,英国2010年的大选有结果,保守党成为第一个在议会政党和他们做了一个联盟与自由民主党,尼克•克莱格领导的。大卫•卡梅伦领导的保守党认为首相在英国。2010年6月22日,财政大臣乔治•奥斯本宣布了第一个预算基于政府的价值观的责任、自由和公平。
Summary of the Budget policy decisions预算决策摘要
A summary of the fiscal impact of Budget policy decisions is set out in the table below财政预算决策的影响概要载于下表
The current situation of global economy当前全球经济形势
The global economy is suffering a recession ordeal that began in the United States in December, 200724. Due to the current world economy system, this recession spread to much of the industrialized world, and has caused a announced deceleration of economic activity. This global recession has been taking place in an economic environment identified by various imbalances and was sparked by the outbreak of the financial crisis of 2007–2010.全球经济正在遭受经济衰退的考验，200724在12月，在美国开始。由于当前世界经济体系，经济衰退蔓延到许多工业化国家，已经造成了经济活动减速宣布。这一全球性的经济衰退已经采取确定各种失衡的经济环境中，并引发了2007-2010年金融危机的爆发。
Compare the last worldwide recession in 1930s, nowadays, the connection between each country or economy union are more tight, the mutual cooperations are more frequent. so when US occurred sub-prime crisis, it lead to the worldwide economic panic. Certain countries were vastly affected more than others. By measuring security market decline, currency devaluation, and the rise in sovereign bond spreads, Carnegie Endowment for International Peace reports in its International Economics Bulletin that Ukraine, as well as Argentina and Jamaica, are the countries most deeply affected by the crisis.http://www.ukassignment.org/dxygessay/
Generally, GDP is widely used to measure the economy development. Compare growth rate in 2007 and in 2009, all the important economy unions slipped down in certain level. Among these, severely affected countries are Russia, United States and United Kingdom. GDP growth rate in Russia from 5.18% in 2007 fell to -7.9% in 2009, US (4.17% in 2007, -2.4% in 2009), UK (5.82% in 2007, -4.8% in 2009), Japan (2.0% in 2007, -5.3% in 2009), Germany (3.72% in 2007, -5% in 2009). By contrast, China (12.37% in 2007, 8.7% in 2009), India ( 5.71% in 2007, 6.5% in 2009), and Brazil ( 4.58% in 2007, -0.2% in 2009) are "among the least affected. "一般来说，国内生产总值被广泛用来衡量经济发展。
International Labour Organization (ILO) predicted, as the economy recession, there are over 200 million unemployment in the worldwide bringing by the financial crisis. Unemployment rate in advanced country is more severe than developing country. According to the Central Intelligence Agency, most economy had certain raise. In industrialized economy, europe country went up most severely, in UK, rate increased from 5.3% in 2007 to 7.6% in 2009, Russia (5.9% in 2007, 8.4% in 2009), the EU average unemployment rate raise from 7.1% in 2007 to 9.7% in 2009, and Spain was conflicted hardest, reached 18.7% (37% for youths) in May 2009 — the highest in the eurozone.26 27 In December 2007, the U.S. unemployment rate was 4.9%.28 By October 2009, the unemployment rate had risen to 10.1%.29 A broader measure of unemployment which account marginally attached workers, part job and discouraged workers was 16.3%.30 In July 2009, fewer jobs were lost than expected, dipping the unemployment rate from 9.5% to 9.4%.国际劳工组织（ILO）预测，随着经济衰退，有超过200万的失业在全球受金融危机影响自己带。先进国家的失业率比发展中国家更为严重。
Different country has different unemployment situation. In US, mostly in "construction, real estate, financial services, and the auto sector, in China, unemployment group is mainly in the manufactory industry and low added value sectors, and most factories located in the south of China.The number of unemployed people worldwide could consecutive increase by more than 50 million in 2010 as the global recession intensifies, the ILO has forecasted.
As the one of victim in the recession, the global financial market shrinked over trillions dollars in the past three years. According to the announcement, International Monetary Fund estiamted that US and European banks lost more than $1 trillion on toxic assets and from bad loans from January 2007 to September 2009. These losses are expected to top $2.8 trillion from 2007-10. U.S. banks losses were forecast to hit $1 trillion and European bank losses will reach $1.6 trillion.32 Meanwhile, the major equity markets in the world were declined in certain degree. The average Don Jones industrial index decreased from peak(close to 14000 in October 2007) to the bottom(nearly 6600 in March 2009), impaired over halves than before. FTSE 100 index declined from 6730 in Oct 2007 to 3530.7 in 2st March 2009. NIKKEI 225 index fell almost 60% from July 2007(18200) to April 2009(7173). Obviously, this is a contagion in the worldwide, and most of stock market devalued exceeding 50%, compared the period before recession.
This chapter contains the overview of UK and global market in the 2009, first introduce the UK economy which decreased 10.5% in GDP from 2007 to 2009, and unemployment number increased 2.3% from 2007 to 2009, UK fell into the economic quagmire. In the same time, Global economy suffered the dilemma as well. In the next chapter, we will realize the performance of worldwide property industry and UK’s in the recession period本章包含在2009年的英国和全球的市场概述，首先介绍的英国经济，国内生产总值下降了10.5％，2007至2009年，失业人数增加2.3％，2007至2009年，英国陷入经济困局。与此同时，全球经济遭遇的困境。