Everyone
of us are well versed with the fact that the world economy went through a tough
time of global meltdown making the curtains come down at an odd time; Countries
from United States of America to Japan, from Saudi Arabia to Mexico felt the
heat of untimely wrath. Shutdowns soon followed only to increase the number of
unemployed to a grave extent. There were considerable rises in number of
suicide and robbery cases in the third world countries, making this part of the
world a paradox of extremities.
Economists
of the world blamed the foreign policies of the government for such mishap.
They stressed that it was the free economy inclination that made the world pass
through the path of fire. However, amidst the global recession, there were some
countries that were unaffected from the global wrath. United Kingdom is one of
the few developed nations who have survived the phase in style. It was the
government whose effective financial policy made the country come under the
protective blanket, making the country stand tall amidst the global lull.
The
policies implemented by the government of United Kingdom were the basic ones,
but it was neatly implemented and perfectly executed. The government kept its
conscious eyes in keeping a watch on the business made by the big business
houses. They also engaged auditors to pay frequent and sudden visits to those
firms for checking their transaction records so as to keep off the floating
money from the periphery of market fluctuations. Regular and thorough checks
were also initiated so that there remained no loopholes in collection of income
tax from its employed residents. The government understood the necessity of
strengthening the base and thus, initiated simple measures with strict and
rigid interface only to make the country remain aloof from the customary global
meltdown.
This
can also not be denied that, the rigid practice of filling income tax and the
tedious process of auditors auditing financial records of a company gave the
people involved a hard time. But, nothing comes without an effect. As, this
very practice made UK emerge as one of the major economic super powers of the
world.
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