econ

• The HM treasury is the governments economic and finance department. It is responsible for the management of public finances and the economy.
• The Chancellor of Exchequer is the governments chief financial minister and is responsible for the day to day running of the Treasury.
• 2010-2016 George Osborn

  2016-2019 Philip Hammond

  2019-2020 Sajid Javid

  2020-2022 Rishi Sunak

  2022 Nadhim Zahawi

  2022 Kwasi Kwarteng

  2022-2024 Jeremy Hunt

  2024 Rachel Reeves
• An interest rate is the cost of borrowing money. A base rate is the interest rate central banks (BoE) charge commercial banks (or building societies) for loans.
• Inflation is the sustained increase in the general price level of goods and services in an economy over time. In the UK the target rate of inflation is 2%.
• Richest countries - Luxembourg, Ireland, Switzerland, Norway

  Poorest countries - South Sudan, Burundi, Central African Republic, Democratic Republic of Congo