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The new economy stimulate plan   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’.   Summary of the Budget policy decisions   A summary of the fiscal impact of Budget policy decisions is set out in the table below     The current situation of global economy     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.   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.   GDP comparison   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. "   Unemployment rate   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%. nt 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. Financial market   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. Summary   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     二零一零年五月六日,在此背景下,2010年的英國大選有結果,保守黨成為第一個黨在議會中,他們做了一個由尼克·克萊格領導的自由民主黨聯盟。保守黨領袖戴維·卡梅倫擔任英國首相。 2010年6月22日,財政大臣喬治·奧斯本宣布的首份財政預算案,政府的價值觀基礎上的責任,自由和fairness20。在這個計劃中,迫切目標是解決不平衡英國經濟,但最值得商榷的規定,增值稅稅率將從17.5%提高到20%,從2011年1月4日,雖然保守的意圖是增加revenue20。相反,它代表英國人民需要交更多的稅,比以前,英國的商品也將失去競爭力,因為較高的價格。在其他部分,如市政稅和資本收益稅都有不同幅度的增長,但是,如兒童福利和房屋福利的政府支出將在未來5 years21減少。正如上面所提到的,新的專職政府急于拔出英國脆弱的經濟,嚴重的財政赤字泥。我不能想不是說誰從這個預算中獲取利益,但有一件事我可以定義英國人會度過一個艱巨的5年。正如威廉姆斯男爵夫人說:我們是在一個地獄一個爛攤子'。   預算決策摘要   財政預算決策的影響概要載于下表     當前全球經濟形勢     全球經濟正在遭受經濟衰退的考驗,200724在12月,在美國開始。由于當前世界經濟體系,經濟衰退蔓延到許多工業化國家,已經造成了經濟活動減速宣布。這一全球性的經濟衰退已經采取確定各種失衡的經濟環境中,并引發了2007-2010年金融危機的爆發。   比較最后在20世紀30年代的全球經濟衰退,如今,每個國家或經濟聯盟之間的聯系越來越緊,相互合作越來越頻繁。所以,當美國發生次貸危機,導致全球經濟恐慌。某些國家,大大影響了比別人多。通過測量安全市場的下跌,貨幣貶值,主權債券利差上升,卡內基國際和平基金會國際經濟簡訊,烏克蘭,以及阿根廷和牙買加,是受危機影響的國家最深刻的報告。   GDP比較   一般來說,國內生產總值被廣泛用來衡量經濟發展。在2007年和2009年的增長率比較,所有重要的經濟體工會在一定程度上滑落下來。其中,嚴重影響的國家是俄羅斯,美國和英國。在俄羅斯的國內生產總值增長率從2007年的5.18%下降到2009年的-7.9%,美國(2007年為4.17%,2009年為-2.4%),英國(2007年為5.82%,2009年為-4.8%),日本(2.0%在2007年,2009年為-5.3%),德國(2007年為3.72%,-5%,2009年)。相比之下,中國(2007年為12.37%,2009年為8.7%),印度(2007年的5.71%,2009年為6.5%)和巴西(2007年的4.58%,2009年為-0.2%),“影響最小。 “   失業率   國際勞工組織(ILO)預測,隨著經濟衰退,有超過200萬的失業在全球受金融危機影響自己帶。先進國家的失業率比發展中國家更為嚴重。據中央情報局,最經濟有一定的提高。歐洲國家在工業化經濟上升最嚴重的是,在英國,率從2007年的5.3%增加至7.6%,在2009年,俄羅斯(2007年為5.9%,2009年為8.4%),歐盟平均失業率從7.1%提高2007年至2009年的9.7%,西班牙是沖突最嚴重,達到了18.7%的青年(37%)于2009年5月 - 2007年12月的最高在eurozone.26 27,美國的失業率為4.9%0.28 2009年10月,失業率已上升至10.1%.29一個更廣泛的程度輕微連接的工人,部分作業和氣餒的工人失業,占16.3%.30在2009年7月,更少的就業機會比預期丟失,浸漬失業率從9.5%至9.4%。 NT情況。在美國,大多是在“建筑,房地產,金融服務,以及汽車行業,在中國,失業組主要集中在制造行業和低附加值行業,大多數工廠設在南部。極具失業人數全世界的人們可以連續增加超過50萬,在2010年,隨著全球經濟衰退的加劇,國際勞工組織的預測。 金融市場   在經濟衰退的受害者之一,在過去三年,超過萬億美元的全球金融市場的萎縮。根據公告,國際貨幣基金組織預測采購,美國和歐洲銀行損失超過1萬億美元的有毒資產和不良貸款從2007年1月至2009年9。這些損失預計將突破2.8萬億美元2007-10。美國銀行損失預計將高達1萬億美元,歐洲銀行的損失將達1.6 trillion.32,與此同時,在世界主要股市的下跌在一定程度上。唐道瓊斯工業平均指數下降峰值(接近14000于2007年10月)的底部(2009年3月近6600),比以前減值超過一半。 2ST 2009年3月,富時100指數從2007年10月的6730下降到3530.7。日經225指數下跌了近60%,從2007年7月(18200)于2009年4月(7173)。顯然,這是一個在世界范圍內的蔓延,大部分股市貶值超過50%,比經濟衰退前的期間。 總結   本章包含在2009年的英國和全球的市場概述,首先介紹了英國經濟在2007至2009年國內生產總值下降了10.5%,失業人數增加2.3%,二○○七年至2009年,英國陷入經濟困局。與此同時,全球經濟遭遇的困境。在下一章中,我們將實現全球房地產行業的表現,英國的經濟衰退期