Charlotte of Mecklenburg-Strelitz
Charlotte of Mecklenburg-Strelitz was the wife of King George III. She served as Queen of Great Britain and Queen of Ireland from her wedding in 1761 until the union of the two kingdoms in 1801, after which she was Queen of the United Kingdom of Great Britain and Ireland until her death in 1818, she was the Electress of Hanover in the Holy Roman Empire until the promotion of her husband to King of Hanover on 12 October 1814, after which she was queen consort of Hanover. Charlotte was a patron of an amateur botanist who helped expand Kew Gardens, she was distressed by her husband's bouts of physical and mental illness, which became permanent in life and resulted in their eldest son's appointment as Prince Regent in 1811. George III and Charlotte had 15 children in total, she was the mother of two future British monarchs, George IV and William IV. Her other children included Ernest Augustus, King of Hanover, Charlotte, Queen of Württemberg. Sophia Charlotte was born on 19 May 1744, she was the youngest daughter of Duke Charles Louis Frederick of Mecklenburg and of his wife Princess Elisabeth Albertine of Saxe-Hildburghausen.
Mecklenburg-Strelitz was a small north-German duchy in the Holy Roman Empire. The children of Duke Charles were all born at the Unteres Schloss in Mirow. According to diplomatic reports at the time of her engagement to George III in 1761, Charlotte had received "a mediocre education", her upbringing was similar to that of a daughter of an English country gentleman. She received some rudimentary instruction in botany, natural history and language from tutors, but her education focused on household management and on religion, the latter taught by a priest. Only after her brother Adolphus Frederick succeeded to the ducal throne in 1752 did she gain any experience of princely duties and of court life; when King George III succeeded to the throne of Great Britain upon the death of his grandfather, George II, he was 22 years old and unmarried. His mother and advisors were anxious to have him settled in marriage; the 17-year-old Princess Charlotte of Mecklenburg-Strelitz appealed to him as a prospective consort because she had been brought up in an insignificant north German duchy and therefore would have had no experience or interest in power politics or party intrigues.
That proved to be the case. The King announced to his Council in July 1761, according to the usual form, his intention to wed the Princess, after which a party of escorts, led by the Earl Harcourt, departed for Germany to conduct Princess Charlotte to England, they reached Strelitz on 14 August 1761, were received the next day by the reigning duke, Princess Charlotte's brother, at which time the marriage contract was signed by him on the one hand and Earl Harcourt on the other. Three days of public celebrations followed, on 17 August 1761, the Princess set out for Britain, accompanied by her brother, Duke Adolphus Frederick, by the British escort party. On 22 August, they reached Cuxhaven; the voyage was difficult. They set out at once for London, spent that night in Witham, at the residence of Lord Abercorn, arrived at 3:30 pm the next day at St. James's Palace in London, they were received by the King and his family at the garden gate, which marked the first meeting of the bride and groom. At 9:00 pm that same evening, within six hours of her arrival, Charlotte was united in marriage with King George III.
The ceremony was performed at the Chapel Royal, St. James's Palace, by the Archbishop of Canterbury, Thomas Secker. Only the royal family, the party who had travelled from Germany, a handful of guests were present. Upon her wedding day, Charlotte spoke no English. However, she learned English, albeit speaking with a strong German accent. Many observers considered her "ugly", one commented, "She is timid at first but talks a lot, when she is among people she knows." Less than a year after the marriage, on 12 August 1762, the Queen gave birth to her first child, Prince of Wales. In the course of their marriage, the couple became the parents of 15 children, all but two of whom survived into adulthood. St James's Palace functioned as the official residence of the royal couple, but the king had purchased a nearby property, Buckingham House, located at the western end of St James's Park. More private and compact, the new property stood amid rolling parkland not far from St James's Palace. Around 1762 the King and Queen moved to this residence, intended as a private retreat.
The Queen came to favor this residence, spending so much of her time there that it came to be known as The Queen's House. Indeed, in 1775, an Act of Parliament settled the property on Queen Charlotte in exchange for her rights to Somerset House. Most of her 15 children were born in Buckingham House, although St James's Palace remained the official and ceremonial royal residence. During her first years in Great Britain, Charlotte's strained relationship with her mother-in-law, Princess Augusta, caused her difficulty in adapting to the life of the British court; the queen mother interfered with Charlotte's efforts to establish social contacts by insisting on rigid court etiquette. Furthermore, Augusta appointed many of Charlotte's staff, among whom several were expected to report to Augusta about Charlotte's behavior; when she turned to her German companions for fr
First Lord of the Treasury
The First Lord of the Treasury is the head of the commission exercising the ancient office of Lord High Treasurer in the United Kingdom, is by convention the Prime Minister. This office is not equivalent to the usual position of the "Treasurer" in other governments; as of the beginning of the 17th century, the running of the Treasury was entrusted to a commission, rather than to a single individual. Since 1714, it has permanently been in commission; the commissioners have always since that date been referred to as Lords Commissioners of the Treasury, adopted ordinal numbers to describe their seniority. In the middle of the same century, the First Lord of the Treasury came to be seen as the natural head of the overall ministry running the country, and, as of the time of Robert Walpole, began to be known, unofficially, as the Prime Minister; the term Prime Minister was but decreasingly, used as a term of derogation. William Pitt the Younger said the Prime Minister "ought to be the person at the head of the finances"—though Pitt served as Chancellor of the Exchequer for the entirety of his time as Prime Minister, so his linkage of the finance portfolio to the premiership was wider than proposing the occupation of the First Lordship by the Prime Minister.
Prior to 1841 the First Lord of the Treasury held the office of Chancellor of the Exchequer unless he was a peer and thus barred from that office. As of 1841, the Chancellor has always been Second Lord of the Treasury when he was not Prime Minister. By convention, the other Lords Commissioners of the Treasury are Government Whips in the House of Commons. 10 Downing Street is the official residence of the First Lord of the Treasury, not the office of Prime Minister. Chequers, a country house in Buckinghamshire, is the official country residence of the Prime Minister, used as a weekend and holiday home, although the residence has been used by other senior members of government. Much of this list overlaps with the list of Prime Ministers of the United Kingdom, but there are some notable differences, principally concerning the Marquess of Salisbury, Prime Minister but not First Lord in 1885–86, 1887–92 and 1895–1902; those First Lords who were Prime Minister are indicated in bold. Thereafter the posts of First Lord of the Treasury and Prime Minister have continually been held by the same person.
Chief Baron of the Exchequer List of Lords Commissioners of the Treasury Minister for the Civil Service, by convention the Prime Minister Secretary to the Treasury
Economy
An economy is an area of the production, distribution, or trade, consumption of goods and services by different agents. Understood in its broadest sense,'The economy is defined as a social domain that emphasize the practices and material expressions associated with the production and management of resources'. Economic agents can be individuals, organizations, or governments. Economic transactions occur when two parties agree to the value or price of the transacted good or service expressed in a certain currency. However, monetary transactions only account for a small part of the economic domain. Economic activity is spurred by production which uses natural resources and capital, it has changed over time due to technology, innovation such as, that which produces intellectual property and changes in industrial relations. A given economy is the result of a set of processes that involves its culture, education, technological evolution, social organization, political structure and legal systems, as well as its geography, natural resource endowment, ecology, as main factors.
These factors give context and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of human transactions, it does not stand alone. A market-based economy is one where goods and services are produced and exchanged according to demand and supply between participants by barter or a medium of exchange with a credit or debit value accepted within the network, such as a unit of currency. A command-based economy is one where political agents directly control what is produced and how it is sold and distributed. A green economy is low-carbon, resource efficient, inclusive. In a green economy, growth in income and employment is driven by public and private investments that reduce carbon emissions and pollution, enhance energy and resource efficiency, prevent the loss of biodiversity and ecosystem services. A gig economy is one in which short-term jobs are assigned via online platforms and a programmable economy is the set of revolutionary changes taking place in the global economy due to technology innovations.
✓. Today the range of fields of study examining the economy revolves around the social science of economics, but may include sociology, history and geography. Practical fields directly related to the human activities involving production, distribution and consumption of goods and services as a whole are engineering, business administration, applied science, finance. All professions, economic agents or economic activities, contribute to the economy. Consumption and investment are variable components in the economy that determine macroeconomic equilibrium. There are three main sectors of economic activity: primary and tertiary. Due to the growing importance of the economical sector in modern times, the term real economy is used by analysts as well as politicians to denote the part of the economy, concerned with the actual production of goods and services, as ostensibly contrasted with the paper economy, or the financial side of the economy, concerned with buying and selling on the financial markets.
Alternate and long-standing terminology distinguishes measures of an economy expressed in real values, such as real GDP, or in nominal values. The English words "economy" and "economics" can be traced back to the Greek word οἰκονόμος, a composite word derived from οἶκος and νέμω by way of οἰκονομία; the first recorded sense of the word "economy" is in the phrase "the management of œconomic affairs", found in a work composed in a monastery in 1440. "Economy" is recorded in more general senses, including "thrift" and "administration". The most used current sense, denoting "the economic system of a country or an area", seems not to have developed until the 1650s; as long as someone has been making and distributing goods or services, there has been some sort of economy. Sumer developed a large-scale economy based on commodity money, while the Babylonians and their neighboring city states developed the earliest system of economics as we think of, in terms of rules/laws on debt, legal contracts and law codes relating to business practices, private property.
The Babylonians and their city state neighbors developed forms of economics comparable to used civil society concepts. They developed the first known codified legal and administrative systems, complete with courts and government records; the ancient economy was based on subsistence farming. The Shekel referred to an ancient unit of currency; the first usage of the term came from Mesopotamia circa 3000 BC. and referred to a specific mass of barley which related other values in a metric such as silver, copper etc. A barley/shekel was both a unit of currency and a unit of weight, just as the British Pound was a uni
Chancellor of the Exchequer
The Chancellor and Under-Treasurer of Her Majesty's Exchequer known as the Chancellor of the Exchequer, or the Chancellor, is a senior official within the Government of the United Kingdom and head of Her Majesty's Treasury. The office is a British Cabinet-level position; the chancellor is responsible for all economic and financial matters, equivalent to the role of finance minister in other nations. The position is considered one of the four Great Offices of State, in recent times has come to be the most powerful office in British politics after the prime minister; the Chancellor of the Exchequer is now always Second Lord of the Treasury as one of the Lords Commissioners for executing the office of Lord High Treasurer. In the 18th and early 19th centuries, it was common for the prime minister to serve as Chancellor of the Exchequer if he sat in the Commons. In cases when the chancellorship was vacant, the Lord Chief Justice of the King's Bench would act as Chancellor pro tempore; the last Lord Chief Justice to serve in this way was Lord Denman in 1834.
The chancellor is the third-oldest major state office in British history. The earliest surviving records which are the results of the exchequer's audit, date from 1129–30 under King Henry I and show continuity from previous years; the chancellor controlled monetary policy as well as fiscal policy until 1997, when the Bank of England was granted independent control of its interest rates. The chancellor has oversight of public spending across Government departments; the holder of the office of Chancellor of the Exchequer is ex officio Second Lord of the Treasury as a member of the commission exercising the ancient office of Lord High Treasurer. As the Second Lord, his official residence is 11 Downing Street in London, next door to the residence of the First Lord of the Treasury, who resides in 10 Downing Street. While in the past both houses were private residences, today they serve as interlinked offices, with the occupant living in an apartment made from attic rooms resided in by servants. Since 1827, the chancellor has always held the office of Second Lord of the Treasury when that person has not been the prime minister.
A previous chancellor, Robert Lowe, described the office in the following terms in the House of Commons, on 11 April 1870: "The Chancellor of the Exchequer is a man whose duties make him more or less of a taxing machine. He is entrusted with a certain amount of misery which it is his duty to distribute as as he can." The chancellor has considerable control over other departments as it is the Treasury which sets Departmental Expenditure Limits. The amount of power this gives to an individual chancellor depends on his personal forcefulness, his status within his party and his relationship with the prime minister. Gordon Brown, who became chancellor when Labour came into Government in 1997, had a large personal power base in the party; as a result, Tony Blair chose to keep him in the same position throughout his ten years as prime minister. This has strengthened a pre-existing trend towards the Chancellor occupying a clear second position among government ministers, elevated above his traditional peers, the Foreign Secretary and Home Secretary.
One part of the Chancellor's key roles involves the framing of the annual year budget. As of 2017, the first is the Autumn Budget known as Budget Day which forecasts government spending in the next financial year and announces new financial measures; the second is a Spring Statement known as a "mini-Budget". Britain's tax year has retained the old Julian end of year: 24 March / 5 April. From 1993, the Budget was in spring, preceded by an annual autumn statement; this was called Pre-Budget Report. The Autumn Statement took place in November or December; the 1997, 2001, 2002, 2003, 2006, 2007, 2008, 2012 and 2016 budgets were all delivered on a Wednesday, summarised in a speech to the House of Commons. The budget is a state secret. Hugh Dalton, on his way to giving the budget speech in 1947, inadvertently blurted out key details to a newspaper reporter, they appeared in print before he made his speech. Dalton was forced to resign. Although the Bank of England is responsible for setting interest rates, the chancellor plays an important part in the monetary policy structure.
He sets the inflation target. Under the Bank of England Act 1998 the chancellor has the power of appointment of four out of nine members of the Bank's Monetary Policy Committee – the so-called'external' members, he has a high level of influence over the appointment of the Bank's Governor and Deputy Governors, has the right of consultation over the appointment of the two remaining MPC members from within the Bank. The Act provides that the Government has the power to give instructions to the Bank on interest rates for a limited period in extreme circumstances; this power has never been used. At HM Treasury the chancellor is supported by a political team of four junior ministers and by permanent civil servants; the most important junior minister is the Chief Secretary to the Treasury, a member of the Cabinet
Finance
Finance is a field, concerned with the allocation of assets and liabilities over space and time under conditions of risk or uncertainty. Finance can be defined as the art of money management. Participants in the market aim to price assets based on their risk level, fundamental value, their expected rate of return. Finance can be split into three sub-categories: public finance, corporate finance and personal finance. Matters in personal finance revolve around: Protection against unforeseen personal events, as well as events in the wider economies Transference of family wealth across generations Effects of tax policies management of personal finances Effects of credit on individual financial standing Development of a savings plan or financing for large purchases Planning a secure financial future in an environment of economic instability Pursuing a checking and/or a savings account Personal finance may involve paying for education, financing durable goods such as real estate and cars, buying insurance, e.g. health and property insurance and saving for retirement.
Personal finance may involve paying for a loan, or debt obligations. The six key areas of personal financial planning, as suggested by the Financial Planning Standards Board, are: Financial position: is concerned with understanding the personal resources available by examining net worth and household cash flows. Net worth is a person's balance sheet, calculated by adding up all assets under that person's control, minus all liabilities of the household, at one point in time. Household cash flows total up all from the expected sources of income within a year, minus all expected expenses within the same year. From this analysis, the financial planner can determine to what degree and in what time the personal goals can be accomplished. Adequate protection: the analysis of how to protect a household from unforeseen risks; these risks can be divided into the following: liability, death, disability and long term care. Some of these risks may be self-insurable, while most will require the purchase of an insurance contract.
Determining how much insurance to get, at the most cost effective terms requires knowledge of the market for personal insurance. Business owners, professionals and entertainers require specialized insurance professionals to adequately protect themselves. Since insurance enjoys some tax benefits, utilizing insurance investment products may be a critical piece of the overall investment planning. Tax planning: the income tax is the single largest expense in a household. Managing taxes is not a question of if you will pay taxes, but when and how much. Government gives many incentives in the form of tax deductions and credits, which can be used to reduce the lifetime tax burden. Most modern governments use a progressive tax; as one's income grows, a higher marginal rate of tax must be paid. Understanding how to take advantage of the myriad tax breaks when planning one's personal finances can make a significant impact in which can save you money in the long term. Investment and accumulation goals: planning how to accumulate enough money – for large purchases and life events – is what most people consider to be financial planning.
Major reasons to accumulate assets include purchasing a house or car, starting a business, paying for education expenses, saving for retirement. Achieving these goals requires projecting what they will cost, when you need to withdraw funds that will be necessary to be able to achieve these goals. A major risk to the household in achieving their accumulation goal is the rate of price increases over time, or inflation. Using net present value calculators, the financial planner will suggest a combination of asset earmarking and regular savings to be invested in a variety of investments. In order to overcome the rate of inflation, the investment portfolio has to get a higher rate of return, which will subject the portfolio to a number of risks. Managing these portfolio risks is most accomplished using asset allocation, which seeks to diversify investment risk and opportunity; this asset allocation will prescribe a percentage allocation to be invested in stocks, bonds and alternative investments.
The allocation should take into consideration the personal risk profile of every investor, since risk attitudes vary from person to person. Retirement planning is the process of understanding how much it costs to live at retirement, coming up with a plan to distribute assets to meet any income shortfall. Methods for retirement plans include taking advantage of government allowed structures to manage tax liability including: individual structures, or employer sponsored retirement plans and life insurance products. Estate planning involves planning for the disposition of one's assets after death. There is a tax due to the state or federal government at one's death. Avoiding these taxes means that more of one's assets will be distributed to one's heirs. One can leave one's assets to friends or charitable groups. Corporate finance deals with the sources of funding and the capital structure of corporations, the actions that managers take to increase the value of the firm to the shareholders, the tools and analysis used to allocate financial resources.
Although it is in principle different from managerial finance which studies the financial management of all firms, rather than corporations alone, the main concepts in the study of corporate finance are applicable to the financial problems of all kinds of firms. Corporate f
England
England is a country, part of the United Kingdom. It shares land borders with Wales to Scotland to the north-northwest; the Irish Sea lies west of England and the Celtic Sea lies to the southwest. England is separated from continental Europe by the North Sea to the east and the English Channel to the south; the country covers five-eighths of the island of Great Britain, which lies in the North Atlantic, includes over 100 smaller islands, such as the Isles of Scilly and the Isle of Wight. The area now called England was first inhabited by modern humans during the Upper Palaeolithic period, but takes its name from the Angles, a Germanic tribe deriving its name from the Anglia peninsula, who settled during the 5th and 6th centuries. England became a unified state in the 10th century, since the Age of Discovery, which began during the 15th century, has had a significant cultural and legal impact on the wider world; the English language, the Anglican Church, English law – the basis for the common law legal systems of many other countries around the world – developed in England, the country's parliamentary system of government has been adopted by other nations.
The Industrial Revolution began in 18th-century England, transforming its society into the world's first industrialised nation. England's terrain is chiefly low hills and plains in central and southern England. However, there is upland and mountainous terrain in the west; the capital is London, which has the largest metropolitan area in both the United Kingdom and the European Union. England's population of over 55 million comprises 84% of the population of the United Kingdom concentrated around London, the South East, conurbations in the Midlands, the North West, the North East, Yorkshire, which each developed as major industrial regions during the 19th century; the Kingdom of England – which after 1535 included Wales – ceased being a separate sovereign state on 1 May 1707, when the Acts of Union put into effect the terms agreed in the Treaty of Union the previous year, resulting in a political union with the Kingdom of Scotland to create the Kingdom of Great Britain. In 1801, Great Britain was united with the Kingdom of Ireland to become the United Kingdom of Great Britain and Ireland.
In 1922 the Irish Free State seceded from the United Kingdom, leading to the latter being renamed the United Kingdom of Great Britain and Northern Ireland. The name "England" is derived from the Old English name Englaland, which means "land of the Angles"; the Angles were one of the Germanic tribes that settled in Great Britain during the Early Middle Ages. The Angles came from the Anglia peninsula in the Bay of Kiel area of the Baltic Sea; the earliest recorded use of the term, as "Engla londe", is in the late-ninth-century translation into Old English of Bede's Ecclesiastical History of the English People. The term was used in a different sense to the modern one, meaning "the land inhabited by the English", it included English people in what is now south-east Scotland but was part of the English kingdom of Northumbria; the Anglo-Saxon Chronicle recorded that the Domesday Book of 1086 covered the whole of England, meaning the English kingdom, but a few years the Chronicle stated that King Malcolm III went "out of Scotlande into Lothian in Englaland", thus using it in the more ancient sense.
According to the Oxford English Dictionary, its modern spelling was first used in 1538. The earliest attested reference to the Angles occurs in the 1st-century work by Tacitus, Germania, in which the Latin word Anglii is used; the etymology of the tribal name itself is disputed by scholars. How and why a term derived from the name of a tribe, less significant than others, such as the Saxons, came to be used for the entire country and its people is not known, but it seems this is related to the custom of calling the Germanic people in Britain Angli Saxones or English Saxons to distinguish them from continental Saxons of Old Saxony between the Weser and Eider rivers in Northern Germany. In Scottish Gaelic, another language which developed on the island of Great Britain, the Saxon tribe gave their name to the word for England. An alternative name for England is Albion; the name Albion referred to the entire island of Great Britain. The nominally earliest record of the name appears in the Aristotelian Corpus the 4th-century BC De Mundo: "Beyond the Pillars of Hercules is the ocean that flows round the earth.
In it are two large islands called Britannia. But modern scholarly consensus ascribes De Mundo not to Aristotle but to Pseudo-Aristotle, i.e. it was written in the Graeco-Roman period or afterwards. The word Albion or insula Albionum has two possible origins, it either derives from a cognate of the Latin albus meaning white, a reference to the white cliffs of Dover or from the phrase the "island of the Albiones" in the now lost Massaliote Periplus, attested through Avienus' Ora Maritima to which the former served as a source. Albion is now applied to England in a more poetic capacity. Another romantic name for England is Loegria, related to the Welsh word for England and made popular by its use in Arthurian legend; the earliest known evidence of human presence in the area now known as England was that of Homo antecessor, dating to approximate
Treasury
A treasury is either A government department related to finance and taxation. A place or Schatzkammer where currency or precious items like gold, diamonds etc. are kept. The head of a treasury is known as a treasurer; this position may not have the final control over the actions of the treasury if they are not an elected representative. The adjective for a treasury is treasurial; the adjective "tresorial" can be used, but this means pertaining to a treasurer. The earliest found artefacts made of silver and gold are from Lake Varna in Bulgaria dated 4250–4000 BC, the earliest of copper are dated 9000–7000 BC.... And there was silver weighing many thousands of talents and all the royal treasure amounting to a great sum... The term treasury was first used in Classical times to describe the votive buildings erected to house gifts to the gods, such as the Siphnian Treasury in Delphi or many similar buildings erected in Olympia, Greece by competing city-states to impress others during the ancient Olympic Games.
In Ancient Greece treasuries were always physically incorporated within religious buildings such as temples, thus making state funds sacrosanct and adding moral constraints to the penal ones to those who would have access to these funds. The sovereigns' treasury within the palace in ancient Jerusalem, is considered to be similar in nature to the temple treasury; the temple treasury of the settlement had appointed officials and functioned akin to a bank.... in fact in every city there are banking places for the holy money... In excavations of Persepolis a text containing information pertaining to the activities of a temple treasury were discovered dated to the fifth century BC; the texts written in the Elamite language name the treasurer as ganzabara The ancient Roman word aerarium signified the treasury of the Senate, fiscus was used to indicate the imperial treasury used by Caesar. In the United Kingdom, Her Majesty's Treasury is overseen by the Chancellor of the Exchequer; the traditional honorary title of First Lord of the Treasury is held by the Prime Minister.
Her Majesty's Revenue and Customs administers the taxation system. In the United States, the Treasurer reports to an executive-appointed Secretary of the Treasury; the IRS is the revenue agency of the US Department of the Treasury. In many other countries, the treasury is called the "ministry of finance" and the head is known as the finance minister. Examples include the Bahamas, Belgium, Italy, New Zealand, Canada, Singapore, Japan, the Netherlands and Zimbabwe. In some other countries, a "Treasury" will exist alongside a separate "Ministry of Finance", with divided functions; the State Treasury in Polish law represents the Polish state acting in the field of civil law relations in which it is treated as equal partner to private entities. It can be represented by various officials or institutions depending on circumstances and has its own ministry, the Ministry of State Treasury, it was created in the Crown of the Kingdom of Poland in 1590, when the public treasury was split from the Royal Treasury.
The government of Ukraine includes the Ministry of Finance as well as the Ministry of State Treasury. It was the same in Italy before the creation of the united Ministry of Economy. In the Australian federal government a treasurer and a finance minister co-exist; the Department of the Treasury is responsible for drafting the government budget, economic policy, some market regulation and revenue policy. The Finance Minister, who manages the Department of Finance and Deregulation, is responsible for budget management, government expenditure and market deregulation
