Britain In a Global Society Essay Example | Topics and Well Written Essays - 750 words

Britain In a Global Society - Essay Example Political system of UK is multi-party system- the political system in which more than one party is involved. Labour party, conservative party and liberal democrats are the parties of UK. Political system of the UK under the constitution is unmodified. Parliament has the responsibility to select the prime minister. Prime minister is basically the head of the majority party. UK is a constitutional monarchy which is the form of a government in which Queen is head of the state. The Members of Parliament are elected by the common citizen of UK. But the members of House of Lords are not elected. House of Lords member inherit sit from their fathers. The United Kingdom works on diversified economy. Diversified economy of UK is one of the largest in the world. The UK economy system follows mixed economy like many other nations. In mixed economy, both public and state sector direct the economy. Due to this private firms are free and can enable to produce and sell commodities and goods but it would be controlled by the government. UK is a trading nation. Domestic market of UK is limited that results to find more companies from outside of the country. One of the world’s largest importers is UK. United Kingdom’s mixed economy enables government to own stake of certain industries which are socialist characteristics (Branch, 2006, p.546). But mixed economy of United Kingdom has almost free market features. UK was one of the most stable economy countries before 2007. But after 2008 GDP growth rate of UK fell to 0.7%. UK is always renowned for its strong economy and rich blend of science and art. UK is the major centre for multinational companies. UK is the sixth largest importer in the world and tenth largest exporter in the world. In the year 2009, UK was one of the largest producers of natural gas in the world. And it is largest in the EU. UK has the third largest aerospace industry in the world. Foreign aerospace companies