The Bank of England is the central bank of the United Kingdom. It has two core purposes - monetary stability and financial stability. (Getty Images)

The UK Government’s economic strategy aims to improve growth and employment by creating economic stability based on low inflation and prudent government borrowing, and a better environment for long-term investment in industry, infrastructure, science and technology, and education and training. Fiscal policy is now directed firmly towards maintaining sound public finances over the medium term, based on strict rules. This approach, together with the new monetary policy framework, provides the platform of stability necessary for achieving the Government's central economic goal of high and sustainable levels of growth and employment.

Britain’s economy is based primarily on private enterprise, which accounts for approximately four-fifths of both output and employment. Since the global recession of 1990 – 1992 the UK has experienced continuous growth and low inflation. Unemployment levels are low and employment is strong. The UK is Europe’s leading business centre and has the least restricted business environment within the EU.

The service sector accounts for more than three quarter of GDP and the UK has easily the largest financial services trade surplus in the world. London remains the largest centre in the world for international financial services business and London’s pre-eminence in Europe’s financial services industry is increasing, with international banks centralising many of their European operations in London.

Britain’s absence from the Euro has not prevented London from becoming effectively the international financial capital for the Euro; about one third  of global foreign exchange trading of Euros is done in London.

The world’s major economies, including the UK and Canada, are members of the OECD whose members share a commitment to democratic government and the market economy. With active relationships with some 70 other countries, NGOs and civil society, it has a global reach. Best known for its publications and its statistics, its work covers economic and social issues from macroeconomics, to trade, education, development and science and innovation.

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Bank of England
The Bank is responsible for operating monetary policy in the UK.

HM Treasury  
The Government department responsible for formulating and putting into effect the Government’s financial and economic policy, including the medium term economic and fiscal framework. See Economic Data for a short summary of weekly economic indicators.

HM Revenue & Customs
Created following the merger of Inland Revenue and HM Customs and Excise Departments, HMRC is responsible for indirect taxes, including value added tax and excise duties, and is also responsible for providing an effective and fair tax service to the country and Government.

The Financial Services Authority  
Britain’s super-regulator, responsible for supervision and regulation of all Britain’s banks and financial institutions.

The London Stock Exchange  
One of the world’s top three exchanges and the world’s leading exchange for international business.

OECD  
The OECD’s work covers economic and social issues from macroeconomics, to trade, education, development and science and innovation.

National Institute of Economic and Social Research  
An independent economic research institute with the objective of promoting a deeper understanding of the interaction of economic and social forces that affect people's lives so that they may be improved