Key Figures

Chief of State:
Queen Elizabeth II
Head of Government:
Prime Minister Theresa May

Overview

Government Name:
United Kingdom of Great Britain and Northern Ireland
Constitution:
No written consitution, parliament legally has sovereignty . Un-written consitution focuses on statutes, common law and traditional rights.
Government Type:
Constitutional Monarchy and a Commonwealth Realm
United Kingdom of Great Britain and Northern Ireland Flag
Coat of Arms of United Kingdom of Great Britain and Northern Ireland

Index of Economic Freedom

Grades each country on a scale of 0 to 100, based on ten freedoms, with 100 representing the greatest amount of economic autonomy from government intervention. Source: Heritage Foundation (2018)

Country Risk Rating

A3
Changes in generally good but somewhat volatile political and economic environment can affect corporate payment behavior. A basically secure business environment can nonetheless give rise to occasional difficulties for companies. Corporate default probability is quite acceptable on average. Source: Coface (2018)

Government Branches

Main Powers Election Process Election Cycle 1
Executive

Power to dismiss and appoint a prime minister, grant Royal Assent to bills, commission officers in the Armed Forces, ratify and make treaties, recognize sttes, and deploy Armed Forces over seas.

Prime minister is elected by parliament.

5 years

Judicial

Has jurisdiction to resolve disputes relating to devolution in the United Kingdom and concerning the legal powers of the three devolved governments (in Scotland, Wales and Northern Ireland) or laws made by the devolved legislatures.

Appointed by the monarch.

Mandatory retirement age of 80

Legislative

Ministers are a part of the Parliament which is in charge of the primary acts of legislation.

House of Lords are appointed by the monarch and 92 members are hereditary, and the House of Commons are elected by simple majority vote in single-member constituencies.

5 years

Regional Trade Blocs

International Organization Participation [2]

Environmental Agreements [3]

Tax Information [2]

Tax Authority:
HM Revenue and Customs
Tax Name:
VAT

Sources:

  1. ElectionGuide http://www.electionguide.org/
  2. EY, http://www.ey.com
  3. CIA World Factbook, https://www.cia.gov/library/publications/the-world-factbook/
  4. U.S. Bilateral Relations Fact Sheets http://www.state.gov/r/pa/ei/bgn/