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Damian Reagor
Your Emini Trading School Book Here For 2016 Classes. How much time do you spend sitting in front of
your computer trading EMini Futures on an average day? Possibly even "trend trading"?
Damian Reagor
Your Pivot Point Trading Coach Register Here For 2016 sessions. How much time do you spend sitting in front
of your computer trading EMini Futures on an average day?
Leslie Rabenold
Your Pivot Point Trading Coach Register Here For May. How much time do you spend sitting in front of your
computer trading EMini Futures on an average day?
Bernard Simokat
If you have trouble winding-down to sleep, it may be that light sources are interfering with your
body's Circadian rhythms. Our 3D Contour Sleep Eye Mask and Earplugs will provide a better sense of
darkness and quiet to your body, allowing you to drift off to a blissful sleep and awaken rejuvenated and
mentally focused. Our Sleep Masks are top rated for good reason!
Otis Molinary
This is it. You can enjoy a pool building contractor in your backyard caring for your swimming pool.
Ona Earney
Trying to find a solar pool heating unit is not like trying to find grocery store. Taken a while and also
it's stuff that you wouldnt like to rush right into.
oscar scanido
HND Diploma in Business MANAGING FINANCIAL RESOURCES AND DECISIONS
September 4,
2016
Uncategorized
Assignment Help
Pearson BTEC Level 4
Assignment Help
HND Diploma in
Business
MANAGING FINANCIAL RESOURCES AND
DECISIONS
Assessment
Assignment Help
Date for Submission:
11th February 2016
(The submission portal will close at 13:59 GMT)
Date for Submission: 21st March 2016 (The
submission portal will close at 23:59 HKT)
Assessor Name: Kenneth Chang (kchang@rdihongkong.com)
Remarks:
Please note that all assignment must submit through iLearn before the given deadline.
Assignment
Help
Assignment Brief
Assignment Help
As part of the formal assessment for the HNC/D programme you
are required to submit an assignment for each module. Please refer to your Student Handbook for full details
of the programme assessment scheme and general information on preparing and submitting
assignments.
Assignment Help
After completing the module you should be able to:
Assignment
Help
LO1. Understand the sources of finance available to a business
LO2. Understand the implications of
finance as a resource within a business
LO3. Be able to make financial decisions based on financial
information
LO4. Be able to evaluate the financial performance of a business
Assignment Task One
In no
more than 1,000 words, write a critical discussion, supported by academic literature, addressing the following
for a listed company in Hong Kong:
a) Identify the potential sources of finance available and explain why
financial planning is important.
(Assessment Criteria 1.1, 2.2)
b) Identify and evaluate both long term
and short term sources of finance for a project implemented by a listed company. Offer definitions, and assess
the advantages and disadvantages for each of the sources you identify and when each would be most
appropriate.
(Assessment Criteria 1.2,1.3)
c) Analyse the costs associated with different sources of
finance and explain how these costs impact the financial statements.
(Assessment Criteria 2.1, 2.4)
d)
Assess the information needs of three stakeholders – such as owners or financial institutions
(Assessment
Criterion 2.3)
Assignment Help
 
Assignment Task Two
Aston Ltd is considering investing some of their
capital in new premises. This will entail capital expenditure of some $1,000,000. This new project is set to
last for ten years and is likely to attract the following budgeted inflows (money coming into the business)
and budgeted outflows (money going out of the business):
Years Cash Inflows Cash Outflows
$'000
$'000
0 0 1000
1 110 30
2 120 35
3 130 40
4 140 45
5 150 50
6 160 55
7 170 60
8 180 65
9 190
70
10 200 75
Note the $1m in year 0 represents the initial capital expenditure.
The business is built up
of both equity and debt, and in terms of this specific project it would be funded by $500,000 equity requiring
8% return, and $500,000 of debt requiring 12% return.
In no more than 1,000 words, and using the information
above, complete the following:
a) Identify the Net Value or the Net Cash Flow (before applying the discount
factor) of the project and also the Net Present Value (after applying the discount factor). Analyze and
explain the advantages and disadvantages of the techniques adopted here.
(Assessment Criterion 3.3)
b)
Identify the Undiscounted Payback period and the Discounted Payback period and evaluate whether the pricing
strategy that has generated the inflows is viable in this scenario
(Assessment Criterion 3.2)
c) Assess
whether Aston Ltd should continue with this project. (Assessment Criterion 3.1)
Ensure that where possible
your answer is supported by academic sources.
(Assessment Criterion 3.3)
Assignment Task Three
In no more
than 1,500 words:
a) Identify and discuss the purpose of the two main financial statements shown below for a
UK company Tesco plc. (Assessment Criterion 4.1)
b) Evaluate why different formats of financial statements
are used for different types of business in UK. (Assessment Criterion 4.2)
c) Using the financial statements
detailed below, for Tesco plc, calculate a series of profitability ratios and liquidity ratios, analyze and
interpret the results that you achieve and comment on the company's performance. (Assessment Criterion
4.3)
 
 
Formative assessment
Should you wish to submit a draft of the above assignment for formative
feedback (narrative feedback, not graded), you may do so, but only once. This must be done before the 1stMarch
2016.
Student Guidelines
1. You should write this assignment in a professional report style format,
including the following:
• A cover sheet, detailing the Module Name, the date, your name and your STU
number
• A contents‟ page showing the various elements and their respective page numbers
• Page
numbers and section numbering throughout
2. You must ensure that the submitted assignment is all your own
work and that all sources used are correctly attributed. Penalties apply to assignments which show evidence of
academic unfair practice. (See the Student Handbook which is in the Induction Area). Please also refer to the
‘Guide to Unfair Practice in Assessment' on the module page on ilearn.
3. You MUST underpin your
analysis and evaluation of the key issues with appropriate and wide ranging academic research and ensure this
is referenced using the Harvard system. The ‘My Study Skills' area contains the following useful
resources; Study Skills Guide (containing a Harvard Referencing section) and a Harvard Referencing Interactive
Tutorial. You must use the Harvard Referencing method in your assignment.
4. You should use diagrams and
tables of figures where appropriate ensuring to reference their source using theBournemouth University Harvard
style.
5. You are required to write your assignment within 3500 words in order for your research and
summarising skills to be developed, and for effective time management. You are required to ensure that the
assignment addresses all of the assessment tasks. In the interests of good academic practice, an assignment
submitted with excessive word counts (i.e. more than 10% in excess of the limit) will be returned to you. You
will be given a maximum of 48 hours to edit the work to reduce the word count to the permitted maximum. In the
event that the submission is still regarded as excessively long then, in line with advice received from
Pearson, we will be unable to accept it for marking and you will receive a Refer grade for
Non-Submission.
The word count excludes the title page, reference list and appendices. Where assessment
questions have been reprinted from the assessment brief these will also be excluded from the word count. ALL
other printed words ARE included in the word count. Printed words include those contained within charts and
tables.
6. Your assignment should be submitted as a single document. For more information please see the
"Guide to Submitting an Assignment" document available on the module page on iLearn.
 
Online
‘library' resource available via ilearn
References (via hkebsco in iLearn)
Marsh, Clive (2012)
Financial Management for Non-financial Managers, In Strategic Success Series, London: Kogan Page.
Finch,
Brian (2010) Effective Financial Management, In Creating Success. London :Kogan Page.
Vernimmen, Pierre
(2011) Corporate Finance: Theory and Practice, 3rd ed. Chichester, West Sussex : John Wiley & Sons,
Inc.
BTEC textbook
Davies, J., (2011), BTEC Level 4/5 HNC in Business
Other Reference books
Weetman,
P. (2013) Financial and Management Accounting: An Introduction, Pearson
Lumby, S. and Jones, C. (2000) The
Fundamentals of Investment Appraisal, Thomson Learning
Magazines, journals and newspapers
Accounting,
Auditing and Accountability Journal
The International Journal of Accounting

The Economist

The
Financial Times
Websites
**
html **
List of Securities
of Hong Kong
**
 
Assessment
Criteria for Pass
To achieve a pass you must meet all of the assessment criteria as stated below. Failure to
cover all of the assessment criteria will result in a referral grade and you will be required to re-submit
your assignment.
Further guidance on completion of your assignment can be found in the guidance notes which
are posted on the group learning space by your module tutor. For additional support please post questions onto
the group learning space, or email kchang@rdihongkong.com
Learning Outcomes/
Assessment Criteria Criteria
Met
For tutor use
(you may wish to use this in your preparation for your assignment submission)
LO1
Understand the sources of finance available to a business
1.1 identify the sources of finance available to a
business

1.2 assess the implications of the different sources

1.3 evaluate appropriate sources of
finance for a business project Task 1a and 1b
LO2Understand the implications of finance as a resource
within a business
2.1 Analyze the costs of different sources of finance

2.2 explain the importance of
financial planning

2.3 assess the information needs of different decision makers
2.4 explain the impact
of finance on financial statements Task 1c, 1a and 1d
LO3 Be able to make financial decisions based on
financial information
3.1 analyze budgets and make appropriate decisions

3.2 explain the calculation of
unit costs and make pricing decisions using relevant information
3.3 assess the viability of a project using
investment and appraisal techniques Task 2a, 2b, 2c
LO4 Be able to evaluate the financial performance of a
business
4.1 discuss the main financial statements

4.2 compare appropriate formats of financial
statements for different types of business

4.3 interpret financial statements using appropriate ratios and
comparisons, both internal and external Task 3a, 3b,3c
Assessment Criteria for Merit
To achieve a Merit
all of the Pass criteria need to be met, then the tutor will assess whether you have met the Merit Criteria.
Each of the Merit criteria must have been met at least once within the assignment.
The following statements
are examples of how a merit may be achieved, if you do meet the Merit Criteria by showing you have reached
this level in other ways then credit will be awarded for this. You will need to meet M1, M2, M3 at least
once.
identify and apply strategies to find appropriate solutions
Effective judgments have been made on the
basis of accurate cash flow forecasting
Good knowledge of working capital/liquidity management has been
displayed
Good knowledge of appropriate sources of long term finance are displayed
M1
select/design and
apply appropriate methods/techniques
Effective use has been made of appropriate Investment appraisal
techniques and other calculations e.g. WACC
M2
present and communicate appropriate findings
A clear,
concise and logical flow has been achieved
Use of Harvard referencing throughout
Relatively few omissions
and confusions exist
M3
 
Assessment Criteria for Distinction
To achieve a Distinction you have met
all of the Pass and the Merit criteria. Each of the Distinction criteria must be met at least once within the
assignment.
The following statements are examples of how a Distinction may be achieved, if you do meet the
Distinction Criteria by showing you have reached this level in other ways then credit will be awarded for
this. You will need to meet D1,D2,D3 at least once.
‘Submission has been completed fully and on time'
as per recent guidelines.
use critical reflection to evaluate own work and justify valid conclusions
A
reflective approach will be evident throughout and in particular in areas like evaluation of sources of
business finance and uses /limitations of investment appraisal techniques
D1
take responsibility for
managing and organizing activities
Independent research, outside of what has been provided on the moodle, has
been utilized to prepare a thorough set of answers
D2
demonstrate convergent/lateral/ creative
thinking
Ideas are evaluated for their validity & realism in the context of the answers
An attempt is
made at an evaluation of optimal approaches to financial management 
conclusions
D3
oscar scanido
HND Diploma in Business MANAGING FINANCIAL RESOURCES AND DECISIONS
September 4,
2016
Uncategorized
Assignment Help
Pearson BTEC Level 4
Assignment Help
HND Diploma in
Business
MANAGING FINANCIAL RESOURCES AND
DECISIONS
Assessment
Assignment Help
Date for Submission:
11th February 2016
(The submission portal will close at 13:59 GMT)
Date for Submission: 21st March 2016 (The
submission portal will close at 23:59 HKT)
Assessor Name: Kenneth Chang (kchang@rdihongkong.com)
Remarks:
Please note that all assignment must submit through iLearn before the given deadline.
Assignment
Help
Assignment Brief
Assignment Help
As part of the formal assessment for the HNC/D programme you
are required to submit an assignment for each module. Please refer to your Student Handbook for full details
of the programme assessment scheme and general information on preparing and submitting
assignments.
Assignment Help
After completing the module you should be able to:
Assignment
Help
LO1. Understand the sources of finance available to a business
LO2. Understand the implications of
finance as a resource within a business
LO3. Be able to make financial decisions based on financial
information
LO4. Be able to evaluate the financial performance of a business
Assignment Task One
In no
more than 1,000 words, write a critical discussion, supported by academic literature, addressing the following
for a listed company in Hong Kong:
a) Identify the potential sources of finance available and explain why
financial planning is important.
(Assessment Criteria 1.1, 2.2)
b) Identify and evaluate both long term
and short term sources of finance for a project implemented by a listed company. Offer definitions, and assess
the advantages and disadvantages for each of the sources you identify and when each would be most
appropriate.
(Assessment Criteria 1.2,1.3)
c) Analyse the costs associated with different sources of
finance and explain how these costs impact the financial statements.
(Assessment Criteria 2.1, 2.4)
d)
Assess the information needs of three stakeholders – such as owners or financial institutions
(Assessment
Criterion 2.3)
Assignment Help
 
Assignment Task Two
Aston Ltd is considering investing some of their
capital in new premises. This will entail capital expenditure of some $1,000,000. This new project is set to
last for ten years and is likely to attract the following budgeted inflows (money coming into the business)
and budgeted outflows (money going out of the business):
Years Cash Inflows Cash Outflows
$'000
$'000
0 0 1000
1 110 30
2 120 35
3 130 40
4 140 45
5 150 50
6 160 55
7 170 60
8 180 65
9 190
70
10 200 75
Note the $1m in year 0 represents the initial capital expenditure.
The business is built up
of both equity and debt, and in terms of this specific project it would be funded by $500,000 equity requiring
8% return, and $500,000 of debt requiring 12% return.
In no more than 1,000 words, and using the information
above, complete the following:
a) Identify the Net Value or the Net Cash Flow (before applying the discount
factor) of the project and also the Net Present Value (after applying the discount factor). Analyze and
explain the advantages and disadvantages of the techniques adopted here.
(Assessment Criterion 3.3)
b)
Identify the Undiscounted Payback period and the Discounted Payback period and evaluate whether the pricing
strategy that has generated the inflows is viable in this scenario
(Assessment Criterion 3.2)
c) Assess
whether Aston Ltd should continue with this project. (Assessment Criterion 3.1)
Ensure that where possible
your answer is supported by academic sources.
(Assessment Criterion 3.3)
Assignment Task Three
In no more
than 1,500 words:
a) Identify and discuss the purpose of the two main financial statements shown below for a
UK company Tesco plc. (Assessment Criterion 4.1)
b) Evaluate why different formats of financial statements
are used for different types of business in UK. (Assessment Criterion 4.2)
c) Using the financial statements
detailed below, for Tesco plc, calculate a series of profitability ratios and liquidity ratios, analyze and
interpret the results that you achieve and comment on the company's performance. (Assessment Criterion
4.3)
 
 
Formative assessment
Should you wish to submit a draft of the above assignment for formative
feedback (narrative feedback, not graded), you may do so, but only once. This must be done before the 1stMarch
2016.
Student Guidelines
1. You should write this assignment in a professional report style format,
including the following:
• A cover sheet, detailing the Module Name, the date, your name and your STU
number
• A contents‟ page showing the various elements and their respective page numbers
• Page
numbers and section numbering throughout
2. You must ensure that the submitted assignment is all your own
work and that all sources used are correctly attributed. Penalties apply to assignments which show evidence of
academic unfair practice. (See the Student Handbook which is in the Induction Area). Please also refer to the
‘Guide to Unfair Practice in Assessment' on the module page on ilearn.
3. You MUST underpin your
analysis and evaluation of the key issues with appropriate and wide ranging academic research and ensure this
is referenced using the Harvard system. The ‘My Study Skills' area contains the following useful
resources; Study Skills Guide (containing a Harvard Referencing section) and a Harvard Referencing Interactive
Tutorial. You must use the Harvard Referencing method in your assignment.
4. You should use diagrams and
tables of figures where appropriate ensuring to reference their source using theBournemouth University Harvard
style.
5. You are required to write your assignment within 3500 words in order for your research and
summarising skills to be developed, and for effective time management. You are required to ensure that the
assignment addresses all of the assessment tasks. In the interests of good academic practice, an assignment
submitted with excessive word counts (i.e. more than 10% in excess of the limit) will be returned to you. You
will be given a maximum of 48 hours to edit the work to reduce the word count to the permitted maximum. In the
event that the submission is still regarded as excessively long then, in line with advice received from
Pearson, we will be unable to accept it for marking and you will receive a Refer grade for
Non-Submission.
The word count excludes the title page, reference list and appendices. Where assessment
questions have been reprinted from the assessment brief these will also be excluded from the word count. ALL
other printed words ARE included in the word count. Printed words include those contained within charts and
tables.
6. Your assignment should be submitted as a single document. For more information please see the
"Guide to Submitting an Assignment" document available on the module page on iLearn.
 
Online
‘library' resource available via ilearn
References (via hkebsco in iLearn)
Marsh, Clive (2012)
Financial Management for Non-financial Managers, In Strategic Success Series, London: Kogan Page.
Finch,
Brian (2010) Effective Financial Management, In Creating Success. London :Kogan Page.
Vernimmen, Pierre
(2011) Corporate Finance: Theory and Practice, 3rd ed. Chichester, West Sussex : John Wiley & Sons,
Inc.
BTEC textbook
Davies, J., (2011), BTEC Level 4/5 HNC in Business
Other Reference books
Weetman,
P. (2013) Financial and Management Accounting: An Introduction, Pearson
Lumby, S. and Jones, C. (2000) The
Fundamentals of Investment Appraisal, Thomson Learning
Magazines, journals and newspapers
Accounting,
Auditing and Accountability Journal
The International Journal of Accounting

The Economist

The
Financial Times
Websites
**
html **
List of Securities
of Hong Kong
**
 
Assessment
Criteria for Pass
To achieve a pass you must meet all of the assessment criteria as stated below. Failure to
cover all of the assessment criteria will result in a referral grade and you will be required to re-submit
your assignment.
Further guidance on completion of your assignment can be found in the guidance notes which
are posted on the group learning space by your module tutor. For additional support please post questions onto
the group learning space, or email kchang@rdihongkong.com
Learning Outcomes/
Assessment Criteria Criteria
Met
For tutor use
(you may wish to use this in your preparation for your assignment submission)
LO1
Understand the sources of finance available to a business
1.1 identify the sources of finance available to a
business

1.2 assess the implications of the different sources

1.3 evaluate appropriate sources of
finance for a business project Task 1a and 1b
LO2Understand the implications of finance as a resource
within a business
2.1 Analyze the costs of different sources of finance

2.2 explain the importance of
financial planning

2.3 assess the information needs of different decision makers
2.4 explain the impact
of finance on financial statements Task 1c, 1a and 1d
LO3 Be able to make financial decisions based on
financial information
3.1 analyze budgets and make appropriate decisions

3.2 explain the calculation of
unit costs and make pricing decisions using relevant information
3.3 assess the viability of a project using
investment and appraisal techniques Task 2a, 2b, 2c
LO4 Be able to evaluate the financial performance of a
business
4.1 discuss the main financial statements

4.2 compare appropriate formats of financial
statements for different types of business

4.3 interpret financial statements using appropriate ratios and
comparisons, both internal and external Task 3a, 3b,3c
Assessment Criteria for Merit
To achieve a Merit
all of the Pass criteria need to be met, then the tutor will assess whether you have met the Merit Criteria.
Each of the Merit criteria must have been met at least once within the assignment.
The following statements
are examples of how a merit may be achieved, if you do meet the Merit Criteria by showing you have reached
this level in other ways then credit will be awarded for this. You will need to meet M1, M2, M3 at least
once.
identify and apply strategies to find appropriate solutions
Effective judgments have been made on the
basis of accurate cash flow forecasting
Good knowledge of working capital/liquidity management has been
displayed
Good knowledge of appropriate sources of long term finance are displayed
M1
select/design and
apply appropriate methods/techniques
Effective use has been made of appropriate Investment appraisal
techniques and other calculations e.g. WACC
M2
present and communicate appropriate findings
A clear,
concise and logical flow has been achieved
Use of Harvard referencing throughout
Relatively few omissions
and confusions exist
M3
 
Assessment Criteria for Distinction
To achieve a Distinction you have met
all of the Pass and the Merit criteria. Each of the Distinction criteria must be met at least once within the
assignment.
The following statements are examples of how a Distinction may be achieved, if you do meet the
Distinction Criteria by showing you have reached this level in other ways then credit will be awarded for
this. You will need to meet D1,D2,D3 at least once.
‘Submission has been completed fully and on time'
as per recent guidelines.
use critical reflection to evaluate own work and justify valid conclusions
A
reflective approach will be evident throughout and in particular in areas like evaluation of sources of
business finance and uses /limitations of investment appraisal techniques
D1
take responsibility for
managing and organizing activities
Independent research, outside of what has been provided on the moodle, has
been utilized to prepare a thorough set of answers
D2
demonstrate convergent/lateral/ creative
thinking
Ideas are evaluated for their validity & realism in the context of the answers
An attempt is
made at an evaluation of optimal approaches to financial management 
conclusions
D3
oscar scanido
HND Diploma in Business Strategy Assessment
September 4, 2016
Uncategorized
Assignment Help
Pearson
BTEC Level 5
HND Diploma in Busines
Business Strategy
Assessment
Date for Submission: 11th January 2016
(The submission portal will close at 23:59 HKT)
Remarks: Please note that all assignment must submit through
iLearn before the given deadline.
Assignment Brief
Assignment Help
As part of the formal assessment for
the HNC/D programme you are required to submit an assignment for each module. Please refer to your Student
Handbook for full details of the programme assessment scheme and general information on preparing and
submitting assignments.
Assignment Help
After completing the Business Strategy module you should be able
to:
Assignment Help
LO1 Understand the process of strategic planning
Assignment Help
LO2 Formulate
a new strategy
Assignment Help
LO3 Understand approaches to strategy evaluation
Assignment
Help
LO4 Understand how to implement a chosen strategy
Assignment Task
Students are required to read
the article How Adidas Found Its Second Wind(pdf version available on the module page)
The article can also
be found at **
Published Strategy+Businesswebsite August 24,
2015by Nicholas Ind, Oriol Iglesias, and Majken SchultzAccessed 30/9/15
You are required to apply the
theories / concepts studied in the QCF Business Strategy module to the Adidas organisation throughout your
answers.
Assignment Help
Alternatively, students may select an organisation that they are familiar with
on which to base their assignment answers e.g. current employer, if they wish to.
Please contact the module
tutor by email at the earliest opportunity to gain approval if you wish to select your own choice of
organization.
 
Assignment Tasks
Based on your understanding of business strategy from the completion
of this module, from reading the article, and any of your own research that you have done into the Adidas or
chosen organisation you are required to respond to the following tasks:
Task 1(suggested word count of 800
words)
Assess and analyse how ‘Mission', ‘Vision', ‘Objectives', ‘Goals' and
‘Core Competencies', and other factors such as strategic planning systems, have to be considered when
formulating strategic plans. You should provide examples of each of these strategic terms from Adidas in your
analysis.
(Assessment Criteria 1.1, 1.2)
b) Evaluate the effectiveness of two different strategic planning
techniques for Adidas or chosen organisation when developing its strategic plans.
(Assessment Criterion
1.3)
Task 2(suggested word count of 800 words)
a)Conduct an environmental and organisationalaudit for Adidas
or chosen organisation. You should analyse the strategic position of the business and also assess the
significance of executing stakeholder analysis when formulating a new strategy.
(Assessment Criteria 2.1,
2.2, 2.3)
Task 3(suggested word count of 800 words)
a)Analyse the appropriateness of alternative
strategies (e.g. Market entry, limited growth, retrenchment etc) for Adidas and using the results of your
analysis suggest an appropriate future strategy for the Adidas or chosen organisation taking care to justify
the choice of strategy
(Assessment Criteria 2.4, 3.1, 3.2)
Task 4(suggested word count of 600
words)
Imagine that you are now part of the senior management team of Adidas or chosen organisation and that
you have to implement the recommended business strategy from Task 3.
a) Assess and analyse the roles and
responsibilities of personnel who are charged with strategy implementation and also estimate resource
requirements e.g. HR, time, finance, materials that would be required to implement the future
strategy.
(Assessment Criteria 4.1, 4.2)
b) Identify TWO appropriate SMART targets that could be used in
the implementation process and evaluate why such SMART targets are important to the achievement of the
strategy?
(Assessment Criterion 4.3)
Formative Feedback Opportunity:
If you would like feedbackto assist
with your learning, please produce an outline or a plan by making some brief notes/bullet points (or a
mind-map/diagram if you prefer) under each task heading as to what you intend to include &discusson or
before21st December, 2015(Monday) by email() and you will receive feedback within seven days.It is advisable
to join the Discussion Forum or Live Chat at iLearn about the tasks of the assignment
This is optional and
does not contribute to the grading for the module and whether you choose to use this opportunity for early
feedback or not you must still submit your answers to all assignment questions on or before
11thJanuary,2016.
Student Guidelines
1. You should write this assignment in an informal reportformat and
should respond to each task directly and in turn. You should produce a coherently written document i.e.
‘bullet points' alone or other ‘note' format will not be acceptable as the final submission, and
you should write your answers taking care to explain, justify and evaluate your ideas and knowledge of how the
theories and concepts studied in the QCF Business Strategy module apply to the chosen organisation. You should
also underpin your analysis with relevant references to theory whilst at the same time ensuring that you write
your assignment in your own words as far as is possible.
You should refer to the ‘assessment criteria for
a pass grade' to ensure that each criteria has been covered in your responses to the assignment
tasks.
2. You must ensure that the submitted assignment is all your own work and that all sources used are
correctly attributed. Penalties apply to assignments which show evidence of academic unfair practice. (See the
Student Handbook which is in the Induction Area). Please also refer to the ‘Guide to Unfair Practice in
Assessment' on the module page on ilearn.
3. You MUST underpin your analysis and evaluation of the key
issues with appropriate and wide ranging academic research and ensure this is referenced using the Harvard
system. The ‘My Study Skills'area contains the following useful resources; Study Skills Guide
(containing a Harvard Referencing section) and a Harvard Referencing Interactive Tutorial. You must use the
Harvard Referencing method in your assignment.
4. You should use diagrams and tables of figures where
appropriate ensuring to reference their source using the Harvard Referencing method.
5. You are required to
write your assignment within 3000 words in order for your research and summarising skills to be developed, and
for effective time management. You are required to ensure that the assignment addresses all of the assessment
tasks. In the interests of good academic practice, an assignment submitted with excessive word counts (i.e.
more than 10% in excess of the limit) will be returned to you. You will be given a maximum of 48 hours to edit
the work to reduce the word count to the permitted maximum. In the event that the submission is still regarded
as excessively long then, in line with advice received from Pearson, we will be unable to accept it for
marking and you will receive a Refer grade for Non-Submission.
The word count excludes the title page,
reference list and appendices. Where assessment questions have been reprinted from the assessment brief these
will also be excluded from the word count. ALL other printed words ARE included in the word count. Printed
words include those contained within charts and tables.
6. Your assignment should be submitted as a single
document. For more information please see the "Guide to Submitting an Assignment" document available
on the module page on iLearn.
 
Recommended Additional Resources
Textbooks
Online CORE E-Book
recommended for this course–
Davies, J. 2010 BTEC Level 4/5 HNC in Business. Pearson Higher Education (UK),
2010. ‘VitalsourceBookshelf' file.
(Access to this E-Book is provided via the Vitalsource Bookshelf
software – contact the Student Support Team for access code)
Online ‘library' resource available via
ilearn
MyiLibrary
Johnson, Gerry;Whittington, Richard;Scholes, Kevan. 2011., Exploring Strategy.
[online]. Financial Times/ Prentice Hall. Available from:
Johnson, Gerry;Whittington, Richard;Scholes,
Kevan;Angwin, Duncan;Regnér, Patrick. 2013., Exploring Strategy Text & Cases. [online]. Pearson.
Available from:
Lynch, Richard. 2013., Strategic Management : Middlesex University. [online]. Financial
Times/ Prentice Hall. Available from:ID=463040> 30 September 2014
EBSCO – ‘E book collection'
database
Search for ‘strategy' ‘corporate strategy' ‘business strategy' etc.
MacLennan,
A 2011, Strategy Execution : Translating Strategy Into Action In Complex Organizations, London: Routledge,
eBook Collection (EBSCOhost), EBSCOhost, viewed 1 October 2014.
EBSCO – Business Source Complete
accessed
via ilearn for journals / company profiles / magazine articles etc
Magazines, journals and newspapers
Any
strategic management magazines and journals
Websites
:Top 10 on stakeholder management
How
Adidas Found Its Second Wind(pdf version available on the module page)
The article can also be found at
**
Published Strategy+Businesswebsite August 24, 2015by Nicholas
Ind, Oriol Iglesias, and Majken SchultzAccessed 30/9/15
 
Assessment Criteria for Pass
To achieve a pass
you must meet all of the assessment criteria as stated below. Failure to cover all of the assessment criteria
will result in a Refer grade and you will be required to re-submit your assignment.
Further guidance on
completion of your assignment can be found in the guidance notes which are posted on the group learning space
by your module tutor. For additional support please post questions onto the group learning space, or
email
Learning Outcomes/
Assessment Criteria Criteria Met
For tutor use
(you may wish to use this in your
preparation for your assignment submission)
LO1 Understand the process of strategic planning
1.1 assess how
businessmissions, visions,objectives, goals and core competenciesinform strategic planning Task 1
1.2 analyse
the factors that have to be consideredwhen formulating strategic plans Task 1
1.3 evaluate the effectiveness
of techniques usedwhen developing
strategic business plans Task 1
LO2 Be able to formulate a new
strategy
2.1 analyse the strategicpositioning of a givenorganisation by carrying
out an organisationalaudit
Task 2
2.2 carry out an environmental audit for a givenorganisation Task 2
2.3 assess the significanceof
stakeholder analysiswhen formulating new strategy Task 2
2.4present a new strategy for a givenorganisation
Task 3
LO3 Understand approaches to strategy evaluation and selection
3.1 analyse the appropriateness of
alternativestrategies relating to market entry,substantive growth, limited growth orretrenchment for a given
organisation Task 3
3.2 justify the selection of a strategy Task 3
LO4 Understand how to implement a chosen
strategy
4.1 assess the roles and responsibilities ofpersonnel who are charged with strategyimplementation
Task 4
4.2 analyse the estimated resource requirementsfor implementing a new strategy for a givenorganisation
Task 4
4.3 evaluate the contribution of SMART targets tothe achievement of strategy implementation ina given
organisation. Task 4
 
Assessment Criteria for Merit
To achieve a Merit all of the Pass criteria need to
be met, then the tutor will assess whether you have met the Merit Criteria. Each of the Merit criteria must
have been met at least once within the assignment.
The following statements are examples of how a merit may
be achieved, if you do meet the Merit Criteria by showing you have reached this level in other ways then
credit will be awarded for this. You will need to meet M1, M2, M3 at least once.
M1 – identify and apply
strategies to find appropriate solutions
• Strategic planning processes have been understood with some
application to a real business / scenario. (Task1)
• Possible strategies have been explored in relation
to a specific organisation and appropriate recommendations made. (Task 3) M1
M2 – select/design and apply
appropriate methods/techniques
• Audits have been completed with application to an organisation using
relevant techniques (Task 2)
• Stakeholder analysis completed for the business (T2)
• Appropriate
strategic techniques have been used in order to determine an appropriate future strategy for the business.
(T3)
• Appropriate roles / resources & targets / timescales have been identified with some
application to the organisation. (T4) M2
M3 – present and communicate appropriate findings
•
Appropriate structure i.e. informal report and NOT essay style, and approach has been used
• Logical and
coherent analysis included
• Technical / strategic language is accurately used throughout all
answers
• Range of methods of presentation has been used including use of diagrams where
appropriate.
• Good attempt has been made to use Harvard referencing throughout the report and a
correctly constructed reference list produced at end of report.
M3
 
Assessment Criteria for
Distinction
To achieve a Distinction you have met all of the Pass and the Merit criteria. Each of the
Distinction criteria must be met at least once within the assignment.
The following statements are examples
of how a Distinction may be achieved, if you do meet the Distinction Criteria by showing you have reached this
level in other ways then credit will be awarded for this. You will need to meet D1,D2,D3 at least once.
D1-
use critical reflection to evaluate own work and justify valid conclusions
• Contexts and strategic
planning processes / issues have been fully understood and evaluated in terms of the organisation (T1)
•
The validity of results of audits/ analysis has been evaluated (T2)
• Selected future strategy for the
organisation is fully explored / explained with detailed justification. (T3) D1
D2 – take responsibility
for managing and organising activities
• Independent research, much of which is outside of what has been
provided in the study materials / assignment brief, has been utilised to prepare a thorough, detailed and very
well structured and excellently presented report. Research activities have been carried out which result in
detailed and coherent analysis of the organisastion's likely strategic processes. (all Qns)
• Clear
links are established between the organisation, student's answers and academic literature, providing a
sound academic basis. (all Qns) D2
D3 – demonstrate convergent/lateral/ creative thinking
• Audits
have been comprehensively completed using a selection of techniques (PEST/ SWOT / McKinseys/ Porters 5 forces
etc) showing creativity and with a high degree of detailed application to a specific organisation (Q2)
•
Assignment is completed fully and on time
• Roles / resources / and targets / timescales are discussed
with very detailed analysis, using real business examples to illustrate the implementation of strategy in an
organisation. (T4)
D3
Contact us at hndassignmenthelp@gmail.com
oscar scanido
HND Diploma in Business Strategy Assessment
September 4, 2016
Uncategorized
Assignment Help
Pearson
BTEC Level 5
HND Diploma in Busines
Business Strategy
Assessment
Date for Submission: 11th January 2016
(The submission portal will close at 23:59 HKT)
Remarks: Please note that all assignment must submit through
iLearn before the given deadline.
Assignment Brief
Assignment Help
As part of the formal assessment for
the HNC/D programme you are required to submit an assignment for each module. Please refer to your Student
Handbook for full details of the programme assessment scheme and general information on preparing and
submitting assignments.
Assignment Help
After completing the Business Strategy module you should be able
to:
Assignment Help
LO1 Understand the process of strategic planning
Assignment Help
LO2 Formulate
a new strategy
Assignment Help
LO3 Understand approaches to strategy evaluation
Assignment
Help
LO4 Understand how to implement a chosen strategy
Assignment Task
Students are required to read
the article How Adidas Found Its Second Wind(pdf version available on the module page)
The article can also
be found at **
Published Strategy+Businesswebsite August 24,
2015by Nicholas Ind, Oriol Iglesias, and Majken SchultzAccessed 30/9/15
You are required to apply the
theories / concepts studied in the QCF Business Strategy module to the Adidas organisation throughout your
answers.
Assignment Help
Alternatively, students may select an organisation that they are familiar with
on which to base their assignment answers e.g. current employer, if they wish to.
Please contact the module
tutor by email at the earliest opportunity to gain approval if you wish to select your own choice of
organization.
 
Assignment Tasks
Based on your understanding of business strategy from the completion
of this module, from reading the article, and any of your own research that you have done into the Adidas or
chosen organisation you are required to respond to the following tasks:
Task 1(suggested word count of 800
words)
Assess and analyse how ‘Mission', ‘Vision', ‘Objectives', ‘Goals' and
‘Core Competencies', and other factors such as strategic planning systems, have to be considered when
formulating strategic plans. You should provide examples of each of these strategic terms from Adidas in your
analysis.
(Assessment Criteria 1.1, 1.2)
b) Evaluate the effectiveness of two different strategic planning
techniques for Adidas or chosen organisation when developing its strategic plans.
(Assessment Criterion
1.3)
Task 2(suggested word count of 800 words)
a)Conduct an environmental and organisationalaudit for Adidas
or chosen organisation. You should analyse the strategic position of the business and also assess the
significance of executing stakeholder analysis when formulating a new strategy.
(Assessment Criteria 2.1,
2.2, 2.3)
Task 3(suggested word count of 800 words)
a)Analyse the appropriateness of alternative
strategies (e.g. Market entry, limited growth, retrenchment etc) for Adidas and using the results of your
analysis suggest an appropriate future strategy for the Adidas or chosen organisation taking care to justify
the choice of strategy
(Assessment Criteria 2.4, 3.1, 3.2)
Task 4(suggested word count of 600
words)
Imagine that you are now part of the senior management team of Adidas or chosen organisation and that
you have to implement the recommended business strategy from Task 3.
a) Assess and analyse the roles and
responsibilities of personnel who are charged with strategy implementation and also estimate resource
requirements e.g. HR, time, finance, materials that would be required to implement the future
strategy.
(Assessment Criteria 4.1, 4.2)
b) Identify TWO appropriate SMART targets that could be used in
the implementation process and evaluate why such SMART targets are important to the achievement of the
strategy?
(Assessment Criterion 4.3)
Formative Feedback Opportunity:
If you would like feedbackto assist
with your learning, please produce an outline or a plan by making some brief notes/bullet points (or a
mind-map/diagram if you prefer) under each task heading as to what you intend to include &discusson or
before21st December, 2015(Monday) by email() and you will receive feedback within seven days.It is advisable
to join the Discussion Forum or Live Chat at iLearn about the tasks of the assignment
This is optional and
does not contribute to the grading for the module and whether you choose to use this opportunity for early
feedback or not you must still submit your answers to all assignment questions on or before
11thJanuary,2016.
Student Guidelines
1. You should write this assignment in an informal reportformat and
should respond to each task directly and in turn. You should produce a coherently written document i.e.
‘bullet points' alone or other ‘note' format will not be acceptable as the final submission, and
you should write your answers taking care to explain, justify and evaluate your ideas and knowledge of how the
theories and concepts studied in the QCF Business Strategy module apply to the chosen organisation. You should
also underpin your analysis with relevant references to theory whilst at the same time ensuring that you write
your assignment in your own words as far as is possible.
You should refer to the ‘assessment criteria for
a pass grade' to ensure that each criteria has been covered in your responses to the assignment
tasks.
2. You must ensure that the submitted assignment is all your own work and that all sources used are
correctly attributed. Penalties apply to assignments which show evidence of academic unfair practice. (See the
Student Handbook which is in the Induction Area). Please also refer to the ‘Guide to Unfair Practice in
Assessment' on the module page on ilearn.
3. You MUST underpin your analysis and evaluation of the key
issues with appropriate and wide ranging academic research and ensure this is referenced using the Harvard
system. The ‘My Study Skills'area contains the following useful resources; Study Skills Guide
(containing a Harvard Referencing section) and a Harvard Referencing Interactive Tutorial. You must use the
Harvard Referencing method in your assignment.
4. You should use diagrams and tables of figures where
appropriate ensuring to reference their source using the Harvard Referencing method.
5. You are required to
write your assignment within 3000 words in order for your research and summarising skills to be developed, and
for effective time management. You are required to ensure that the assignment addresses all of the assessment
tasks. In the interests of good academic practice, an assignment submitted with excessive word counts (i.e.
more than 10% in excess of the limit) will be returned to you. You will be given a maximum of 48 hours to edit
the work to reduce the word count to the permitted maximum. In the event that the submission is still regarded
as excessively long then, in line with advice received from Pearson, we will be unable to accept it for
marking and you will receive a Refer grade for Non-Submission.
The word count excludes the title page,
reference list and appendices. Where assessment questions have been reprinted from the assessment brief these
will also be excluded from the word count. ALL other printed words ARE included in the word count. Printed
words include those contained within charts and tables.
6. Your assignment should be submitted as a single
document. For more information please see the "Guide to Submitting an Assignment" document available
on the module page on iLearn.
 
Recommended Additional Resources
Textbooks
Online CORE E-Book
recommended for this course–
Davies, J. 2010 BTEC Level 4/5 HNC in Business. Pearson Higher Education (UK),
2010. ‘VitalsourceBookshelf' file.
(Access to this E-Book is provided via the Vitalsource Bookshelf
software – contact the Student Support Team for access code)
Online ‘library' resource available via
ilearn
MyiLibrary
Johnson, Gerry;Whittington, Richard;Scholes, Kevan. 2011., Exploring Strategy.
[online]. Financial Times/ Prentice Hall. Available from:
Johnson, Gerry;Whittington, Richard;Scholes,
Kevan;Angwin, Duncan;Regnér, Patrick. 2013., Exploring Strategy Text & Cases. [online]. Pearson.
Available from:
Lynch, Richard. 2013., Strategic Management : Middlesex University. [online]. Financial
Times/ Prentice Hall. Available from:ID=463040> 30 September 2014
EBSCO – ‘E book collection'
database
Search for ‘strategy' ‘corporate strategy' ‘business strategy' etc.
MacLennan,
A 2011, Strategy Execution : Translating Strategy Into Action In Complex Organizations, London: Routledge,
eBook Collection (EBSCOhost), EBSCOhost, viewed 1 October 2014.
EBSCO – Business Source Complete
accessed
via ilearn for journals / company profiles / magazine articles etc
Magazines, journals and newspapers
Any
strategic management magazines and journals
Websites
:Top 10 on stakeholder management
How
Adidas Found Its Second Wind(pdf version available on the module page)
The article can also be found at
**
Published Strategy+Businesswebsite August 24, 2015by Nicholas
Ind, Oriol Iglesias, and Majken SchultzAccessed 30/9/15
 
Assessment Criteria for Pass
To achieve a pass
you must meet all of the assessment criteria as stated below. Failure to cover all of the assessment criteria
will result in a Refer grade and you will be required to re-submit your assignment.
Further guidance on
completion of your assignment can be found in the guidance notes which are posted on the group learning space
by your module tutor. For additional support please post questions onto the group learning space, or
email
Learning Outcomes/
Assessment Criteria Criteria Met
For tutor use
(you may wish to use this in your
preparation for your assignment submission)
LO1 Understand the process of strategic planning
1.1 assess how
businessmissions, visions,objectives, goals and core competenciesinform strategic planning Task 1
1.2 analyse
the factors that have to be consideredwhen formulating strategic plans Task 1
1.3 evaluate the effectiveness
of techniques usedwhen developing
strategic business plans Task 1
LO2 Be able to formulate a new
strategy
2.1 analyse the strategicpositioning of a givenorganisation by carrying
out an organisationalaudit
Task 2
2.2 carry out an environmental audit for a givenorganisation Task 2
2.3 assess the significanceof
stakeholder analysiswhen formulating new strategy Task 2
2.4present a new strategy for a givenorganisation
Task 3
LO3 Understand approaches to strategy evaluation and selection
3.1 analyse the appropriateness of
alternativestrategies relating to market entry,substantive growth, limited growth orretrenchment for a given
organisation Task 3
3.2 justify the selection of a strategy Task 3
LO4 Understand how to implement a chosen
strategy
4.1 assess the roles and responsibilities ofpersonnel who are charged with strategyimplementation
Task 4
4.2 analyse the estimated resource requirementsfor implementing a new strategy for a givenorganisation
Task 4
4.3 evaluate the contribution of SMART targets tothe achievement of strategy implementation ina given
organisation. Task 4
 
Assessment Criteria for Merit
To achieve a Merit all of the Pass criteria need to
be met, then the tutor will assess whether you have met the Merit Criteria. Each of the Merit criteria must
have been met at least once within the assignment.
The following statements are examples of how a merit may
be achieved, if you do meet the Merit Criteria by showing you have reached this level in other ways then
credit will be awarded for this. You will need to meet M1, M2, M3 at least once.
M1 – identify and apply
strategies to find appropriate solutions
• Strategic planning processes have been understood with some
application to a real business / scenario. (Task1)
• Possible strategies have been explored in relation
to a specific organisation and appropriate recommendations made. (Task 3) M1
M2 – select/design and apply
appropriate methods/techniques
• Audits have been completed with application to an organisation using
relevant techniques (Task 2)
• Stakeholder analysis completed for the business (T2)
• Appropriate
strategic techniques have been used in order to determine an appropriate future strategy for the business.
(T3)
• Appropriate roles / resources & targets / timescales have been identified with some
application to the organisation. (T4) M2
M3 – present and communicate appropriate findings
•
Appropriate structure i.e. informal report and NOT essay style, and approach has been used
• Logical and
coherent analysis included
• Technical / strategic language is accurately used throughout all
answers
• Range of methods of presentation has been used including use of diagrams where
appropriate.
• Good attempt has been made to use Harvard referencing throughout the report and a
correctly constructed reference list produced at end of report.
M3
 
Assessment Criteria for
Distinction
To achieve a Distinction you have met all of the Pass and the Merit criteria. Each of the
Distinction criteria must be met at least once within the assignment.
The following statements are examples
of how a Distinction may be achieved, if you do meet the Distinction Criteria by showing you have reached this
level in other ways then credit will be awarded for this. You will need to meet D1,D2,D3 at least once.
D1-
use critical reflection to evaluate own work and justify valid conclusions
• Contexts and strategic
planning processes / issues have been fully understood and evaluated in terms of the organisation (T1)
•
The validity of results of audits/ analysis has been evaluated (T2)
• Selected future strategy for the
organisation is fully explored / explained with detailed justification. (T3) D1
D2 – take responsibility
for managing and organising activities
• Independent research, much of which is outside of what has been
provided in the study materials / assignment brief, has been utilised to prepare a thorough, detailed and very
well structured and excellently presented report. Research activities have been carried out which result in
detailed and coherent analysis of the organisastion's likely strategic processes. (all Qns)
• Clear
links are established between the organisation, student's answers and academic literature, providing a
sound academic basis. (all Qns) D2
D3 – demonstrate convergent/lateral/ creative thinking
• Audits
have been comprehensively completed using a selection of techniques (PEST/ SWOT / McKinseys/ Porters 5 forces
etc) showing creativity and with a high degree of detailed application to a specific organisation (Q2)
•
Assignment is completed fully and on time
• Roles / resources / and targets / timescales are discussed
with very detailed analysis, using real business examples to illustrate the implementation of strategy in an
organisation. (T4)
D3
Contact us at hndassignmenthelp@gmail.com
Kevin Collom
Maintaining a tidy refrigerator is very important not just for visual factors, but also for health and
wellness. You do not want to urge microorganisms development or running the risk of gastrointestinal disorder.
You do not want the food you eat to come to be contaminated.
oscar scanido
The Guardian 8/07/2016
12:23 am
Brexit – what would happen if Britain left the EU?
Growth, trade, immigration, jobs,
diplomacy: what would the impact be if a 2017 referendum pushed UK towards the exit?
Katie Allen,
Philip
Oltermann, Julian
Borger and Arthur
Neslen in Brussels
Thursday 14 May 2015
09.33
BST
David Cameron's electoral triumph has brought the prospect of a British withdrawal from the EU one
step closer. The prime minister has vowed to reshape Britain's ties with Europe before putting EU
membership to a vote by 2017.
But what would "Brexit" – a British exit from the 28-nation EU
– look like? Eurosceptics argue that withdrawal would reverse immigration, save the taxpayer billions and
free Britain from an economic burden. Europhiles counter that it would lead to deep economic uncertainty and
cost thousands, possibly even millions, of jobs.
Our writers have drawn on the best available expertise to
assess what Brexit would mean for growth, jobs, trade, immigration and Britain's position in the
world.
The broad economy
There have been a few attempts to quantify what an exit from the EU would do to
the size of the UK economy, despite the obvious pitfalls of trying to put a figure on a hypothetical situation
that has a number of variables – such as what sort of trade deals are negotiated post Brexit (more of that
below). Given the range of potential post-Brexit circumstances there is a broad range of estimates. Some argue
the economy will suffer permanent losses on the back of weaker trade and investment. Others say freedom from
the rules, as well as the costs, that come with EU membership would make Britain more prosperous.
Starting
with the estimates that leaving would be a net loss to the UK economy, one analysis often cited is from
researchers at the National Institute of Economic and Social Research in 2004. They found an exit from the EU
would permanently reduce UK GDP by 2.25%, mainly because of lower foreign direct investment. That estimate is
now old and, as the thinktank's current head, Jonathan Portes, has pointed out, the world economy has
changed considerably in the past decade.
Another analysis by economists at the Centre for
Economic Performance (CEP), part of the London School of Economics, calculated the UK could suffer income
falls of between 6.3% to 9.5% of GDP, similar to the loss resulting from the global financial crisis of
2008-09. That is under the researchers' pessimistic scenario, in which the UK is not able to negotiate
favourable trade terms. Under an optimistic scenario, in which the UK continues to have a free trade agreement
(FTA) with the EU, losses would be 2.2% of GDP.
Overall, the authors state:
Our current assessment is
that leaving the EU would be likely to impose substantial costs on the UK economy and would be a very risky
gamble.
There have also been attempts to collate various pieces of research on how much a Brexit would
cost, and come up with an educated guess of what is at stake. This was the approach of business group the CBI,
which has lobbied for the UK to stay within a reformed EU. It said in November 2013 that by aggregating
research already available it has came to a "conservative" estimate that the benefits of EU
membership amount to 4-5% of GDP, or as much as £78bn a year, making each household £3,000 better off.
In
between those who see a net loss or a net gain from Brexit, are those keen to stress the economic consequences
could go either way. The thinktank Open Europe noted in March, for example, that an exit might boost UK GDP
under certain circumstances. It said:
On the one hand, UK GDP could be 2.2% lower in 2030 if Britain leaves
the EU and fails to strike a deal with the EU or reverts into protectionism. In a best-case scenario, under
which the UK manages to enter into liberal trade arrangements with the EU and the rest of the world, while
pursuing large-scale deregulation at home, Britain could be better off by 1.6% of GDP in 2030.
There is
similarly a more nuanced analysis from economist Roger Bootle in his book, The Trouble with Europe (2014). His
perspective is that the EU is not worth staying in without fundamental reform. But Bootle cautions against
boiling the argument on either side down to numbers. His useful analysis on the UK money flowing to Brussels
underlines that warning.
In 2012, the UK economy made payments of £16.4bn, just over 1% of GDP , to EU
institutions, says Bootle. On the other hand, the UK government received a rebate on its contributions to the
EU budget of £3.1bn and £0.9bn in other receipts. The private sector received £2.9bn from EU institutions.
So overall, the UK paid a net £9.6bn into the EU, about 0.6% of nominal GDP. He concludes:
These are not
the sort of sums on which the fate of great nations depends – nor on which momentous decisions about EU
membership should be made.
The pro-Europe thinktank, the Centre for European Reform (CER), says that
although the UK is a net contributor to the EU, after Brexit the country would face pressure to replace EU
regional funding and agricultural subsidies with domestic spending. There would also be a
dent to
the public finances if immigration is cut upon exit, given migrants are large net contributors to the Treasury
and rejuvenate Britain's ageing population, according to a report by a CER commission last
year.
Finally, there are the voices noting the costs to the UK of EU regulations.
Tim Congdon, economist
and runner-up in Ukip's 2010 leadership election, publishes an annual report for the party on what he
sees as the costs of being in the EU. His latest edition again highlighted the "damage that excessive and
misguided regulation is doing to British business, particularly to small- and medium-sized businesses"
and concluded:
The UK is roughly 11.5% of GDP – about £185bn a year – worse off because it is a member
of the EU instead of being a fully independent sovereign nation.
Jobs
The former Liberal Democrat
leader, Nick Clegg, has in the past claimed that 3m jobs depend on British membership of the EU when arguing
for the UK to stay in the EU.
As the Guardian has reported previously, in a detailed reality check of
Clegg and Nigel Farage's radio debate last year, the Lib Dems said the EU safeguards British jobs because
it provides access to a market of 500 million consumers and because Britain's membership attracts foreign
firms keen to be part of that market. Then like now, those politicians supporting EU membership cite business
bosses who say they may take their companies out of the UK in the event of a Brexit.
Firms that have
contemplated scaling back in the UK in the event of a Brexit include food maker Nestlé, car companies Hyundai
and Ford, and US investment bank Goldman Sachs.
Two sectors get particular mention: the car industry and
financial services.
On the first, the Society of Motor Manufacturers and Traders (SMMT) has argued Europe
is fundamental to the success of the UK automotive industry, a sector employing more than 700,000 people and
accounting for 3% of GDP. A report for SMMT by consultants KPMG last year argued:
The attractiveness of the
UK as a place to invest and do automotive business is clearly underpinned by the UK's influential
membership of the EU.
In the broader manufacturing sector, business leaders make the case for the boost to
UK businesses, and therefore employment, from EU money that funds research and development here. The
manufacturers' organisation EEF says the EU invests £11bn a year on innovation programmes, of which 15%
is invested in the UK.
In financial services, 250 foreign banks employ 160,000 people in the UK, according
to lobby group TheCityUK 2014.
Its chairman, Gerry Grimstone, said alongside TheCityUK reports into EU
membership last year:
Our research clearly shows that leaving the EU would seriously damage
economic growth and jobs in the UK. But the EU can and must be improved. It must not interfere in things which
it does not need to do and it must make a better job of doing the things it has to do. We need to continue
saying this loudly and clearly. London is Europe's financial centre so there is a strong national
interest in getting this right.
But a large dose of caution is needed. First, even though company bosses
have raised this as an issue, there are no guarantees they would leave in droves. Second, talking about a
certain number of jobs being dependent on the EU is misleading. Implying millions of jobs would simply
disappear is downright mischievous.
The free market thinktank, the Institute of Economics Affairs, makes
this point in its paper The EU Jobs Myth. Author Ryan Bourne comments:
Politicians who continue to claim
that 3m jobs are linked to our EU membership should be publicly challenged over misuse of this assertion. Jobs
are associated with trade, not membership of a political union, and there is little evidence to suggest that
trade would substantially fall between British businesses and European consumers in the event the UK was
outside the EU.
He also notes the UK labour market is dynamic and so would adjust:
It would adapt
quickly to changed relationships with the EU. Prior to the financial crisis, the UK saw on average 4m jobs
created and 3.7m jobs lost each year – showing how common substantial churn of jobs is at any given time.
The annual creation and destruction of jobs is almost exactly the same scale as the estimated 3-4m jobs that
are associated with exports to the EU.
Trade
This area is fraught with assumptions that are so broad as
to have fuelled a chain of claims and counter-claims on what a Brexit would mean for the UK's
exports.
Nigel Farage makes the argument that by withdrawing from Europe, the UK frees itself from EU rules
and regulations, and will make its way in the world as a strong, independent trading nation, looking to faster
growing markets such as Brazil and India.
Those most passionately opposed to a Brexit, meanwhile, say
leaving the EU would shut the UK out of its most important market (the EU) and from other markets around the
world that have trade agreements with the EU (but not with the UK in isolation).
Again, the most likely
outcome is somewhere in between these scenarios. Much depends on what a UK government could negotiate once
outside the EU.
The latest survey of about 3,500 businesses by the British Chambers of Commerce highlights
this. More than half of businesses (57%) believe that remaining a member of the EU, with more powers brought
back to Westminster, would be positive. However, 28% of
withdrawal without such an agreement as positive.
This chart sums up responses:
Business attitudes to EU options
Before considering how a post-Brexit
trade picture might look, it is worth getting an idea of how things stand now.
Office for National
Statistics data show that goods exports to the EU were worth £147.9bn in 2014, compared with £154.6bn in
2013. Goods exports to non-EU countries were £144.9bn in 2014, down from £152.2bn in 2013.
The UK's
top six export trading partners are the US, Germany, Netherlands, France, Ireland and China, according to the
latest figures [spreadsheet download] on goods exports (for the three months to the end of February
2015).
But considering only goods trade, on which figures are more readily available, overlooks the
importance of services – the UK's dominant sector. The UK's trade in services, which covers areas
such as IT and accountancy, ranks second behind the US in terms of its share of global exports, according to a
report from the forecasting group EY ITEM Club.
In The Trouble with Europe, Bootle tries to assess what
this all means for the UK economy. Looking at goods and services exports as well as what the UK earns on
overseas investments, the proportion of total receipts from abroad that come from the EU is just over 40%,
Bootle says. Although this probably exaggerates the true importance of the EU in British trade, says the
economist, given distortions to the figures from factors such as UK companies exporting to ports in the EU
only to re-export beyond the region.
On what would happen after a British exit from the EU, Bootle is quite
upbeat. The UK is the rest of the EU's largest single export market, he notes, something that increases
the chance of the UK securing a free trade agreement with the EU. Failing to get such an agreement would not
be disastrous, he adds.
It would place the UK in the same position as the US is currently in, along with
Indian, China and Japan, all of which manage to export to the EU relatively easily.
Some argue that the UK
would get a boost from re-focusing its exports on faster-growing, emerging economies outside the EU. This was
the position taken by Iain Mansfield, the winner of last year's €100,000 IEA Brexit prize (which asks
entrants to submit a blueprint for Britain outside the EU). He said that after an exit, the UK should pursue
free trade agreements with major trading nations, deepen its engagement with organisations such as the G8, G20
and OECD and in Europe, and secure open trade relations. Mansfield found fewer regulations, coupled with
greater trade with emerging economies, could provide an overwhelmingly positive outlook for an independent
Britain.
He concluded:
Although the years immediately surrounding the exit are likely to feature
some degree of market uncertainty, if the right measures are taken the UK can be confident of a healthy
long-term economic outlook outside the EU.
But the UK's ability to negotiate favourable trade deals is
not a given. The Centre for European Reform warns trade costs would rise after a Brexit and the UK would have
less bargaining power for trade agreements than it does as part of a bigger entity, the EU.
Business for
New Europe [pdf], a coalition of business leaders pushing for the UK to stay in a reformed EU, is similarly
sceptical about post-Brexit bargaining clout. It says:
There are a number of free trade agreements
currently being negotiated by the EU, including with the US and Japan. The UK with 65 million consumers would
not have anywhere near the negotiating power that the EU with its 500 million consumers would have.
The CBI
foresees tricky negotiations if the UK wants to keep its current trading conditions after an EU exit.
The
business group's deputy director general, Katja Hall, says:
While we could negotiate trade deals with
the rest of the world, we'd have to agree deals with over 50 countries from scratch just to get back to
where we are now, and to do so with the clout of a market of 60 million, not 500.
Katie
Allen
Immigration
Ukip's 2015 manifesto claims leaving the EU would allow Britain to "take
back control of our borders".
But would it? For a start, fewer people come to live and work in the UK
from within the EU than from the rest of the world. 624,000 people immigrated to the UK in the year to
September 2014, up from 530,000 the year before. The majority of them – 292,000, up by 49,000 – came from
outside the EU and would already have been subject to complex visa restrictions. Some 251,000 people moved to
Britain under the EU's looser free movement rules, an increase of 43,000 over the previous 12
months.
Until it is clear what kind of new arrangement with the EU will replace the current terms of
memberships, it is hard to say how the latter group can be "controlled". Many experts view it as
likely that British access to the single market will come at the price of a free movement arrangement similar
to the one that is in place now. Norway, which is not in the EU but is a member of the European Economic Area,
serves as a warning to enthusiastic "outers": as a recent study by Open Europe showed, in 2013
Norway was the destination of more than twice as many EU migrants per head as the UK.
Yet until such a
replacement arrangement is put in place, migration in and out of the UK could theoretically be regulated
purely by British national law. In such a scenario, moving to
Britain would become considerably harder than
it is now: EU citizens would face the same kind of long queues and border checks upon entering the UK as
"third party" nationals.
Border staff would need to establish whether new arrivals meet the
requirements for entry, requiring proof of income, intention to return and lack of intention to work. Those
planning to stay for longer would need to present proof of employment – posing as a major disincentive for
those in industries with low job security, such as the arts. At universities, EU nationals would have to pay
full tuition fees and would have no access to student loans.
Britain draws up its own list of countries
whose citizens need a visa to enter the country. In theory, it could make poor Bulgarians and Romanians fill
in lots of forms before arrival, while allowing rich French and Germans to visit the UK relatively
hassle-free. The problem with this, as Steven Peers, a professor of EU law at the University of Essex, points
out, is that the EU has its own joint visa list:
The general rule is that if a country like Britain were to
cherrypick and discriminate against individual EU member states, the EU would at least threaten to
retaliate.
Potentially, Brits would end up having to apply for visas every time they travel across the
Channel. Brits already living in other EU countries such as Spain may face integration rules, such as a
requirement to speak the language of the host country, before gaining long-term residency status.
Within
Britain, the border between Northern Ireland and the Irish Republic would by default become the obvious
"back door" for entry into the UK from the EU, and some Irish commentators have said this would
inevitably lead to the introduction of stricter passport checkpoints and customs controls on one of the most
politically sensitive dividing lines in the country.
Philip Oltermann
Status in Europe
A consensus
holds that a Brexit would diminish the status of the UK and EU alike, by varying degrees.
If the dominant
mood in Brussels remains "one of extreme irritation with Cameron, almost bordering on contempt", as
Roger Liddle argued in The Risk of Brexit – as seems inevitable – few favours will be offered.
A
relatively rich offshore supplicant knocking on the doors of the single market would be ripe for caricature
along the penny-pinching, antisocial and racist lines that Eurosceptic sentiment inspires.
Jacques Delors
and Pascal Lamy may twinkle at the thought of an Efta-style free trade agreement with Albion, but the terms
would probably be prescriptive. In that case, a need for new scapegoats in the UK could further erode its
reputation, Fabian Zuleeg, head of the European Policy Centre, believes.
A more optimistic scenario
sees the UK overtaking Germany as the most populous country in Europe by the 2040s, and channeling
transatlantic influence as one of the EU's biggest trading and political partners. But even Tim Oliver of
the Center for Transatlantic Relations at Johns Hopkins University, who advances this vision, says the UK
would be a junior partner, dependent on the caprices of European institutions, trying to negotiate bilateral
free trade deals from a position of weakness.
The UK is one of Europe's "Big Three" states
and routinely punches above its weight – in the climate field, winning everything it wanted from the 2030,
shale gas, tar sands and Hinkley debates, for example. Its size, imperial history, ceremony, financial clout
and involvement in Europe over centuries bestow gravitas in Brussels. Its loss of influence, coupled with
ongoing financial obligations for single market access and so forth would be stunning. Comparisons with other
non-EU members such as Switzerland and Norway in this context are false and unhelpful.
But in terms of
post-Brexit relations, it's worth noting that, unlike Norway, the UK has little hard energy to export.
Unlike Switzerland it has no land borders or linguistic connections with its neighbours. Unlike Iceland, it
has consolidated enmities over decades of treaty negotiations. English is a lingua franca, and British music,
literature and popular culture will doubtless still exert a pull on young Europeans. But with fewer
opportunities to live and study there, this too may diminish over time.
David Marquand argues that a
post-Brexit Britain would be a cross between a greater Norway and a greater Guernsey, abiding by EU norms
without political influence to shape them. He posits "a market society, governed by a market state,
presiding over a glorified tax haven and financial services hub". With inequality, individualism and
civic distrust rampant, Marquand hopes that a phoenix of post-imperial self-awareness might eventually rise
from flames of national dissolution.
This perhaps neglects the degree to which the UK has succeeded in
injecting deregulatory logic and free market imperatives into the corporatist heart of EU policymaking. It is
fair to ask whether a UK exit would really change the austerity dynamics that underpin national standings on
both sides of the channel. In an ageing continent incrementally losing its global market share and political
reach, managing decline is not a purely British phenomenon.
Arthur Neslen
Position in the world
The
dominant view among foreign policy analysts around the world is that a British exit from the EU would diminish
rather than enhance the country's standing and influence.
It is a view shared in Washington and
Beijing, but it is not universal. Perceptions in countries such as India that have had longstanding historical
– mostly colonial – relationships with the UK would be less affected, even if trade declined.
On the
whole, however, voices from abroad give little comfort to the view that Britain
would somehow regain a
unique and resonant voice in world affairs once it breaks away from a collective European identity.
Ivo
Daalder, a former US ambassador to Nato who is now president of the Chicago Council on Global Affairs,
said:
The idea [the UK] could have influence in the world outside the EU is risible. Its power and
effectiveness is from being a strong leader in Europe.
As seen from China, the UK is significant on its own
as a financial centre. But as a world political and trading power its significance is seen as proportionate to
its role in the EU.
Feng Zhongping, the assistant president of the China Institutes of Contemporary
International Relations, said:
I think from China's point of view we don't think that the UK, or
France or Germany or any single European countries can play a global role. But the EU is different. It is the
biggest market, and China's biggest trade partner. The EU is seen as a major power in the world. If the
UK left, it would hurt the UK much more than the EU.
India is the most significant exception to the
consensus of a lesser Britain outside the EU. For Delhi, Britain has many stronger associations than merely as
an EU member, although those associations are not necessarily good ones, as Samir Saran, a political analyst
from the Observer Research Foundation in Delhi, pointed out:
We have always been more comfortable dealing
with countries individually than as part of a club. We don't see the UK as part of the EU, but as a
distinct identity because of its history and the Indian diaspora. So it plays a different role in the Indian
psyche, a unique case. It is not always positive but it is always distinct. And some of the most strategic
elements in foreign policy cannot be conducted through a club like the EU, but as part of a bilateral
relationship.
The existence of a strategic relationship between the UK and India, made up of defence and
hi-tech ties, is another element underlying a different approach to British identity. China, lacking those
ties because of trading restrictions, is more prone to viewing the UK as little more than part of a larger
European trading bloc. Washington maintains an intensely strategic relationship with the UK but has grave
doubts about a British exit for other reasons. In American eyes, anything that fractures the cohesion among
its allies is a bad thing.
Julian Borger
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The Guardian 8/07/2016
12:23 am
Brexit – what would happen if Britain left the EU?
Growth, trade, immigration, jobs,
diplomacy: what would the impact be if a 2017 referendum pushed UK towards the exit?
Katie Allen,
Philip
Oltermann, Julian
Borger and Arthur
Neslen in Brussels
Thursday 14 May 2015
09.33
BST
David Cameron's electoral triumph has brought the prospect of a British withdrawal from the EU one
step closer. The prime minister has vowed to reshape Britain's ties with Europe before putting EU
membership to a vote by 2017.
But what would "Brexit" – a British exit from the 28-nation EU
– look like? Eurosceptics argue that withdrawal would reverse immigration, save the taxpayer billions and
free Britain from an economic burden. Europhiles counter that it would lead to deep economic uncertainty and
cost thousands, possibly even millions, of jobs.
Our writers have drawn on the best available expertise to
assess what Brexit would mean for growth, jobs, trade, immigration and Britain's position in the
world.
The broad economy
There have been a few attempts to quantify what an exit from the EU would do to
the size of the UK economy, despite the obvious pitfalls of trying to put a figure on a hypothetical situation
that has a number of variables – such as what sort of trade deals are negotiated post Brexit (more of that
below). Given the range of potential post-Brexit circumstances there is a broad range of estimates. Some argue
the economy will suffer permanent losses on the back of weaker trade and investment. Others say freedom from
the rules, as well as the costs, that come with EU membership would make Britain more prosperous.
Starting
with the estimates that leaving would be a net loss to the UK economy, one analysis often cited is from
researchers at the National Institute of Economic and Social Research in 2004. They found an exit from the EU
would permanently reduce UK GDP by 2.25%, mainly because of lower foreign direct investment. That estimate is
now old and, as the thinktank's current head, Jonathan Portes, has pointed out, the world economy has
changed considerably in the past decade.
Another analysis by economists at the Centre for
Economic Performance (CEP), part of the London School of Economics, calculated the UK could suffer income
falls of between 6.3% to 9.5% of GDP, similar to the loss resulting from the global financial crisis of
2008-09. That is under the researchers' pessimistic scenario, in which the UK is not able to negotiate
favourable trade terms. Under an optimistic scenario, in which the UK continues to have a free trade agreement
(FTA) with the EU, losses would be 2.2% of GDP.
Overall, the authors state:
Our current assessment is
that leaving the EU would be likely to impose substantial costs on the UK economy and would be a very risky
gamble.
There have also been attempts to collate various pieces of research on how much a Brexit would
cost, and come up with an educated guess of what is at stake. This was the approach of business group the CBI,
which has lobbied for the UK to stay within a reformed EU. It said in November 2013 that by aggregating
research already available it has came to a "conservative" estimate that the benefits of EU
membership amount to 4-5% of GDP, or as much as £78bn a year, making each household £3,000 better off.
In
between those who see a net loss or a net gain from Brexit, are those keen to stress the economic consequences
could go either way. The thinktank Open Europe noted in March, for example, that an exit might boost UK GDP
under certain circumstances. It said:
On the one hand, UK GDP could be 2.2% lower in 2030 if Britain leaves
the EU and fails to strike a deal with the EU or reverts into protectionism. In a best-case scenario, under
which the UK manages to enter into liberal trade arrangements with the EU and the rest of the world, while
pursuing large-scale deregulation at home, Britain could be better off by 1.6% of GDP in 2030.
There is
similarly a more nuanced analysis from economist Roger Bootle in his book, The Trouble with Europe (2014). His
perspective is that the EU is not worth staying in without fundamental reform. But Bootle cautions against
boiling the argument on either side down to numbers. His useful analysis on the UK money flowing to Brussels
underlines that warning.
In 2012, the UK economy made payments of £16.4bn, just over 1% of GDP , to EU
institutions, says Bootle. On the other hand, the UK government received a rebate on its contributions to the
EU budget of £3.1bn and £0.9bn in other receipts. The private sector received £2.9bn from EU institutions.
So overall, the UK paid a net £9.6bn into the EU, about 0.6% of nominal GDP. He concludes:
These are not
the sort of sums on which the fate of great nations depends – nor on which momentous decisions about EU
membership should be made.
The pro-Europe thinktank, the Centre for European Reform (CER), says that
although the UK is a net contributor to the EU, after Brexit the country would face pressure to replace EU
regional funding and agricultural subsidies with domestic spending. There would also be a
dent to
the public finances if immigration is cut upon exit, given migrants are large net contributors to the Treasury
and rejuvenate Britain's ageing population, according to a report by a CER commission last
year.
Finally, there are the voices noting the costs to the UK of EU regulations.
Tim Congdon, economist
and runner-up in Ukip's 2010 leadership election, publishes an annual report for the party on what he
sees as the costs of being in the EU. His latest edition again highlighted the "damage that excessive and
misguided regulation is doing to British business, particularly to small- and medium-sized businesses"
and concluded:
The UK is roughly 11.5% of GDP – about £185bn a year – worse off because it is a member
of the EU instead of being a fully independent sovereign nation.
Jobs
The former Liberal Democrat
leader, Nick Clegg, has in the past claimed that 3m jobs depend on British membership of the EU when arguing
for the UK to stay in the EU.
As the Guardian has reported previously, in a detailed reality check of
Clegg and Nigel Farage's radio debate last year, the Lib Dems said the EU safeguards British jobs because
it provides access to a market of 500 million consumers and because Britain's membership attracts foreign
firms keen to be part of that market. Then like now, those politicians supporting EU membership cite business
bosses who say they may take their companies out of the UK in the event of a Brexit.
Firms that have
contemplated scaling back in the UK in the event of a Brexit include food maker Nestlé, car companies Hyundai
and Ford, and US investment bank Goldman Sachs.
Two sectors get particular mention: the car industry and
financial services.
On the first, the Society of Motor Manufacturers and Traders (SMMT) has argued Europe
is fundamental to the success of the UK automotive industry, a sector employing more than 700,000 people and
accounting for 3% of GDP. A report for SMMT by consultants KPMG last year argued:
The attractiveness of the
UK as a place to invest and do automotive business is clearly underpinned by the UK's influential
membership of the EU.
In the broader manufacturing sector, business leaders make the case for the boost to
UK businesses, and therefore employment, from EU money that funds research and development here. The
manufacturers' organisation EEF says the EU invests £11bn a year on innovation programmes, of which 15%
is invested in the UK.
In financial services, 250 foreign banks employ 160,000 people in the UK, according
to lobby group TheCityUK 2014.
Its chairman, Gerry Grimstone, said alongside TheCityUK reports into EU
membership last year:
Our research clearly shows that leaving the EU would seriously damage
economic growth and jobs in the UK. But the EU can and must be improved. It must not interfere in things which
it does not need to do and it must make a better job of doing the things it has to do. We need to continue
saying this loudly and clearly. London is Europe's financial centre so there is a strong national
interest in getting this right.
But a large dose of caution is needed. First, even though company bosses
have raised this as an issue, there are no guarantees they would leave in droves. Second, talking about a
certain number of jobs being dependent on the EU is misleading. Implying millions of jobs would simply
disappear is downright mischievous.
The free market thinktank, the Institute of Economics Affairs, makes
this point in its paper The EU Jobs Myth. Author Ryan Bourne comments:
Politicians who continue to claim
that 3m jobs are linked to our EU membership should be publicly challenged over misuse of this assertion. Jobs
are associated with trade, not membership of a political union, and there is little evidence to suggest that
trade would substantially fall between British businesses and European consumers in the event the UK was
outside the EU.
He also notes the UK labour market is dynamic and so would adjust:
It would adapt
quickly to changed relationships with the EU. Prior to the financial crisis, the UK saw on average 4m jobs
created and 3.7m jobs lost each year – showing how common substantial churn of jobs is at any given time.
The annual creation and destruction of jobs is almost exactly the same scale as the estimated 3-4m jobs that
are associated with exports to the EU.
Trade
This area is fraught with assumptions that are so broad as
to have fuelled a chain of claims and counter-claims on what a Brexit would mean for the UK's
exports.
Nigel Farage makes the argument that by withdrawing from Europe, the UK frees itself from EU rules
and regulations, and will make its way in the world as a strong, independent trading nation, looking to faster
growing markets such as Brazil and India.
Those most passionately opposed to a Brexit, meanwhile, say
leaving the EU would shut the UK out of its most important market (the EU) and from other markets around the
world that have trade agreements with the EU (but not with the UK in isolation).
Again, the most likely
outcome is somewhere in between these scenarios. Much depends on what a UK government could negotiate once
outside the EU.
The latest survey of about 3,500 businesses by the British Chambers of Commerce highlights
this. More than half of businesses (57%) believe that remaining a member of the EU, with more powers brought
back to Westminster, would be positive. However, 28% of
withdrawal without such an agreement as positive.
This chart sums up responses:
Business attitudes to EU options
Before considering how a post-Brexit
trade picture might look, it is worth getting an idea of how things stand now.
Office for National
Statistics data show that goods exports to the EU were worth £147.9bn in 2014, compared with £154.6bn in
2013. Goods exports to non-EU countries were £144.9bn in 2014, down from £152.2bn in 2013.
The UK's
top six export trading partners are the US, Germany, Netherlands, France, Ireland and China, according to the
latest figures [spreadsheet download] on goods exports (for the three months to the end of February
2015).
But considering only goods trade, on which figures are more readily available, overlooks the
importance of services – the UK's dominant sector. The UK's trade in services, which covers areas
such as IT and accountancy, ranks second behind the US in terms of its share of global exports, according to a
report from the forecasting group EY ITEM Club.
In The Trouble with Europe, Bootle tries to assess what
this all means for the UK economy. Looking at goods and services exports as well as what the UK earns on
overseas investments, the proportion of total receipts from abroad that come from the EU is just over 40%,
Bootle says. Although this probably exaggerates the true importance of the EU in British trade, says the
economist, given distortions to the figures from factors such as UK companies exporting to ports in the EU
only to re-export beyond the region.
On what would happen after a British exit from the EU, Bootle is quite
upbeat. The UK is the rest of the EU's largest single export market, he notes, something that increases
the chance of the UK securing a free trade agreement with the EU. Failing to get such an agreement would not
be disastrous, he adds.
It would place the UK in the same position as the US is currently in, along with
Indian, China and Japan, all of which manage to export to the EU relatively easily.
Some argue that the UK
would get a boost from re-focusing its exports on faster-growing, emerging economies outside the EU. This was
the position taken by Iain Mansfield, the winner of last year's €100,000 IEA Brexit prize (which asks
entrants to submit a blueprint for Britain outside the EU). He said that after an exit, the UK should pursue
free trade agreements with major trading nations, deepen its engagement with organisations such as the G8, G20
and OECD and in Europe, and secure open trade relations. Mansfield found fewer regulations, coupled with
greater trade with emerging economies, could provide an overwhelmingly positive outlook for an independent
Britain.
He concluded:
Although the years immediately surrounding the exit are likely to feature
some degree of market uncertainty, if the right measures are taken the UK can be confident of a healthy
long-term economic outlook outside the EU.
But the UK's ability to negotiate favourable trade deals is
not a given. The Centre for European Reform warns trade costs would rise after a Brexit and the UK would have
less bargaining power for trade agreements than it does as part of a bigger entity, the EU.
Business for
New Europe [pdf], a coalition of business leaders pushing for the UK to stay in a reformed EU, is similarly
sceptical about post-Brexit bargaining clout. It says:
There are a number of free trade agreements
currently being negotiated by the EU, including with the US and Japan. The UK with 65 million consumers would
not have anywhere near the negotiating power that the EU with its 500 million consumers would have.
The CBI
foresees tricky negotiations if the UK wants to keep its current trading conditions after an EU exit.
The
business group's deputy director general, Katja Hall, says:
While we could negotiate trade deals with
the rest of the world, we'd have to agree deals with over 50 countries from scratch just to get back to
where we are now, and to do so with the clout of a market of 60 million, not 500.
Katie
Allen
Immigration
Ukip's 2015 manifesto claims leaving the EU would allow Britain to "take
back control of our borders".
But would it? For a start, fewer people come to live and work in the UK
from within the EU than from the rest of the world. 624,000 people immigrated to the UK in the year to
September 2014, up from 530,000 the year before. The majority of them – 292,000, up by 49,000 – came from
outside the EU and would already have been subject to complex visa restrictions. Some 251,000 people moved to
Britain under the EU's looser free movement rules, an increase of 43,000 over the previous 12
months.
Until it is clear what kind of new arrangement with the EU will replace the current terms of
memberships, it is hard to say how the latter group can be "controlled". Many experts view it as
likely that British access to the single market will come at the price of a free movement arrangement similar
to the one that is in place now. Norway, which is not in the EU but is a member of the European Economic Area,
serves as a warning to enthusiastic "outers": as a recent study by Open Europe showed, in 2013
Norway was the destination of more than twice as many EU migrants per head as the UK.
Yet until such a
replacement arrangement is put in place, migration in and out of the UK could theoretically be regulated
purely by British national law. In such a scenario, moving to
Britain would become considerably harder than
it is now: EU citizens would face the same kind of long queues and border checks upon entering the UK as
"third party" nationals.
Border staff would need to establish whether new arrivals meet the
requirements for entry, requiring proof of income, intention to return and lack of intention to work. Those
planning to stay for longer would need to present proof of employment – posing as a major disincentive for
those in industries with low job security, such as the arts. At universities, EU nationals would have to pay
full tuition fees and would have no access to student loans.
Britain draws up its own list of countries
whose citizens need a visa to enter the country. In theory, it could make poor Bulgarians and Romanians fill
in lots of forms before arrival, while allowing rich French and Germans to visit the UK relatively
hassle-free. The problem with this, as Steven Peers, a professor of EU law at the University of Essex, points
out, is that the EU has its own joint visa list:
The general rule is that if a country like Britain were to
cherrypick and discriminate against individual EU member states, the EU would at least threaten to
retaliate.
Potentially, Brits would end up having to apply for visas every time they travel across the
Channel. Brits already living in other EU countries such as Spain may face integration rules, such as a
requirement to speak the language of the host country, before gaining long-term residency status.
Within
Britain, the border between Northern Ireland and the Irish Republic would by default become the obvious
"back door" for entry into the UK from the EU, and some Irish commentators have said this would
inevitably lead to the introduction of stricter passport checkpoints and customs controls on one of the most
politically sensitive dividing lines in the country.
Philip Oltermann
Status in Europe
A consensus
holds that a Brexit would diminish the status of the UK and EU alike, by varying degrees.
If the dominant
mood in Brussels remains "one of extreme irritation with Cameron, almost bordering on contempt", as
Roger Liddle argued in The Risk of Brexit – as seems inevitable – few favours will be offered.
A
relatively rich offshore supplicant knocking on the doors of the single market would be ripe for caricature
along the penny-pinching, antisocial and racist lines that Eurosceptic sentiment inspires.
Jacques Delors
and Pascal Lamy may twinkle at the thought of an Efta-style free trade agreement with Albion, but the terms
would probably be prescriptive. In that case, a need for new scapegoats in the UK could further erode its
reputation, Fabian Zuleeg, head of the European Policy Centre, believes.
A more optimistic scenario
sees the UK overtaking Germany as the most populous country in Europe by the 2040s, and channeling
transatlantic influence as one of the EU's biggest trading and political partners. But even Tim Oliver of
the Center for Transatlantic Relations at Johns Hopkins University, who advances this vision, says the UK
would be a junior partner, dependent on the caprices of European institutions, trying to negotiate bilateral
free trade deals from a position of weakness.
The UK is one of Europe's "Big Three" states
and routinely punches above its weight – in the climate field, winning everything it wanted from the 2030,
shale gas, tar sands and Hinkley debates, for example. Its size, imperial history, ceremony, financial clout
and involvement in Europe over centuries bestow gravitas in Brussels. Its loss of influence, coupled with
ongoing financial obligations for single market access and so forth would be stunning. Comparisons with other
non-EU members such as Switzerland and Norway in this context are false and unhelpful.
But in terms of
post-Brexit relations, it's worth noting that, unlike Norway, the UK has little hard energy to export.
Unlike Switzerland it has no land borders or linguistic connections with its neighbours. Unlike Iceland, it
has consolidated enmities over decades of treaty negotiations. English is a lingua franca, and British music,
literature and popular culture will doubtless still exert a pull on young Europeans. But with fewer
opportunities to live and study there, this too may diminish over time.
David Marquand argues that a
post-Brexit Britain would be a cross between a greater Norway and a greater Guernsey, abiding by EU norms
without political influence to shape them. He posits "a market society, governed by a market state,
presiding over a glorified tax haven and financial services hub". With inequality, individualism and
civic distrust rampant, Marquand hopes that a phoenix of post-imperial self-awareness might eventually rise
from flames of national dissolution.
This perhaps neglects the degree to which the UK has succeeded in
injecting deregulatory logic and free market imperatives into the corporatist heart of EU policymaking. It is
fair to ask whether a UK exit would really change the austerity dynamics that underpin national standings on
both sides of the channel. In an ageing continent incrementally losing its global market share and political
reach, managing decline is not a purely British phenomenon.
Arthur Neslen
Position in the world
The
dominant view among foreign policy analysts around the world is that a British exit from the EU would diminish
rather than enhance the country's standing and influence.
It is a view shared in Washington and
Beijing, but it is not universal. Perceptions in countries such as India that have had longstanding historical
– mostly colonial – relationships with the UK would be less affected, even if trade declined.
On the
whole, however, voices from abroad give little comfort to the view that Britain
would somehow regain a
unique and resonant voice in world affairs once it breaks away from a collective European identity.
Ivo
Daalder, a former US ambassador to Nato who is now president of the Chicago Council on Global Affairs,
said:
The idea [the UK] could have influence in the world outside the EU is risible. Its power and
effectiveness is from being a strong leader in Europe.
As seen from China, the UK is significant on its own
as a financial centre. But as a world political and trading power its significance is seen as proportionate to
its role in the EU.
Feng Zhongping, the assistant president of the China Institutes of Contemporary
International Relations, said:
I think from China's point of view we don't think that the UK, or
France or Germany or any single European countries can play a global role. But the EU is different. It is the
biggest market, and China's biggest trade partner. The EU is seen as a major power in the world. If the
UK left, it would hurt the UK much more than the EU.
India is the most significant exception to the
consensus of a lesser Britain outside the EU. For Delhi, Britain has many stronger associations than merely as
an EU member, although those associations are not necessarily good ones, as Samir Saran, a political analyst
from the Observer Research Foundation in Delhi, pointed out:
We have always been more comfortable dealing
with countries individually than as part of a club. We don't see the UK as part of the EU, but as a
distinct identity because of its history and the Indian diaspora. So it plays a different role in the Indian
psyche, a unique case. It is not always positive but it is always distinct. And some of the most strategic
elements in foreign policy cannot be conducted through a club like the EU, but as part of a bilateral
relationship.
The existence of a strategic relationship between the UK and India, made up of defence and
hi-tech ties, is another element underlying a different approach to British identity. China, lacking those
ties because of trading restrictions, is more prone to viewing the UK as little more than part of a larger
European trading bloc. Washington maintains an intensely strategic relationship with the UK but has grave
doubts about a British exit for other reasons. In American eyes, anything that fractures the cohesion among
its allies is a bad thing.
Julian Borger
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HI6028 Taxation, Theory, Practice & Law
September 4, 2016
Uncategorized
Assignment Help
HI6028
Taxation, Theory, Practice &
Law
T2, 2016 ASSIGNMENT 1
Due date: Week 8
Maximum marks: 20
(20%)
Instructions:
This assignment is to be submitted by the due date in both soft-copy
(Safeassign –
Bb) and hard copy.
The assignment is to be submitted in accordance with assessment
policy stated in the
Subject Outline and Student Handbook.
It is the responsibility of the student submitting the work to
ensure
that the work is in fact his/her own work. Ensure that when
incorporating the works of others into
your submission that it
appropriately acknowledged.
Case study 1: Residence and source
Fred, an executive
of a British corporation specializing in management consultancy,
comes to Australia to set up a branch of his
company. Although the length of his stay
is not certain, he leases a residence in Melbourne for 12 months.
His wife
accompanies him on the trip but his teenage sons, having just commenced college,
stay in London.
Fred rents out the family home. Apart from the absence of his
children, Fred's daily behavior is
relatively similar to his behavior before entering
Australia. As well as the rent on the UK property, Fred
earns interest from
investments he has in France. Because of ill health Fred returns to the UK 11
months
after arriving in Australia.
Requirement
Discuss whether Fred is a resident of Australia for
taxation purposes. ( 4
Marks, maximum 500 words)
Case study 2: ordinary income
Explanations of the
respective outcomes reached by the courts in the following cases
which all involving sales of land
I.
Californian Copper Syndicate Ltd v Harris (Surveyor of Taxes) (1904) 5 TC
159
II. Scottish Australian Mining
Co Ltd v FC of T (1950) 81 CLR 188
III. FC of T v Whitfords Beach Pty Ltd (1982) 150 CLR
IV. Statham &
Anor v FC of T 89 ATC 4070
V. Casimaty v FC of T 97 ATC 5135
VI. Moana Sand Pty Ltd v FC of T 88 ATC
4897
VII. Crow v FC of T 88 ATC 4620
VIII. McCurry & Anor v FC of T 98 ATC 4487
(16 marks, max. 2000
words).
Assignment Help
Assignment Help
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oscar scanido
HI6028 Taxation, Theory, Practice & Law
September 4, 2016
Uncategorized
Assignment Help
HI6028
Taxation, Theory, Practice &
Law
T2, 2016 ASSIGNMENT 1
Due date: Week 8
Maximum marks: 20
(20%)
Instructions:
This assignment is to be submitted by the due date in both soft-copy
(Safeassign –
Bb) and hard copy.
The assignment is to be submitted in accordance with assessment
policy stated in the
Subject Outline and Student Handbook.
It is the responsibility of the student submitting the work to
ensure
that the work is in fact his/her own work. Ensure that when
incorporating the works of others into
your submission that it
appropriately acknowledged.
Case study 1: Residence and source
Fred, an executive
of a British corporation specializing in management consultancy,
comes to Australia to set up a branch of his
company. Although the length of his stay
is not certain, he leases a residence in Melbourne for 12 months.
His wife
accompanies him on the trip but his teenage sons, having just commenced college,
stay in London.
Fred rents out the family home. Apart from the absence of his
children, Fred's daily behavior is
relatively similar to his behavior before entering
Australia. As well as the rent on the UK property, Fred
earns interest from
investments he has in France. Because of ill health Fred returns to the UK 11
months
after arriving in Australia.
Requirement
Discuss whether Fred is a resident of Australia for
taxation purposes. ( 4
Marks, maximum 500 words)
Case study 2: ordinary income
Explanations of the
respective outcomes reached by the courts in the following cases
which all involving sales of land
I.
Californian Copper Syndicate Ltd v Harris (Surveyor of Taxes) (1904) 5 TC
159
II. Scottish Australian Mining
Co Ltd v FC of T (1950) 81 CLR 188
III. FC of T v Whitfords Beach Pty Ltd (1982) 150 CLR
IV. Statham &
Anor v FC of T 89 ATC 4070
V. Casimaty v FC of T 97 ATC 5135
VI. Moana Sand Pty Ltd v FC of T 88 ATC
4897
VII. Crow v FC of T 88 ATC 4620
VIII. McCurry & Anor v FC of T 98 ATC 4487
(16 marks, max. 2000
words).
Assignment Help
Assignment Help
Contact us at hndassignmenthelp@gmail.com
Assignment
Help
Assignment Help
Assignment Help
Assignment Help
Keneth Banasiak
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• Travel: Save time and space with this sleek, all in one USB charger.
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