Regulatory and Economic environment Essay Example | Topics and Well Written Essays - 1500 words

Regulatory and Economic environment - Essay sampleSweden and the United Kingdom are both members of the European Union (EU). Twelve of these nations are tied unneurotic with the common currency, the Euro, and the EUs remaining members are compel to join by treaty once they meet precise criteria. Sweden and the UK have made no plans as of yet to change to the Euro. The EU is the beingnesss largest economy, which is projected to grow at a rate of 2.1% per year. The Growth and Stability Pact insures that each states deficit doesnt exceed 3% of the bring in Domestic Product (GDP), and its public debt must remain below 60% of their GDP.The United Kingdom is whizz of the best places in the world to do topic cell research. This is because of the strong history in stem cell biology in the UK, the tight regulatory system administered by the Human Fertilisation and Embryology post (HFEA) and the strong commitment we have, both financially and politically, from the government. (Rehwagen ).Simon Best, chairman elect of the United Kingdom Bio Industry Association, in any case said that, Australia, the U.K., some U.S. states, and Sweden are world class in this field. The U.K. is in a good slur to build on the talents. (Rehwagen).Currently, Sweden is in a phase of economic growth. ... Sweden has a population estimated in 2006 at 9,103,551, with a toweringly skilled workforce. The World Economic Forum (WEF) ranked Sweden as third in their survey of 104 economies and their capacity for future growth. (Economy of the European Union). Business growth in Sweden is deemed winning due to many factors such as a very healthy macro-economic environment, easy access to progress technologies, qualified workforce, good infrastructure, and competitive costs for staff, rent, and business expenses. The unemployment rate of Sweden is highly contested among political officials exclusively the official figure is currently at 5.4% (2006.) (Sweden.). Many Swedes also choose to work a broad in neighboring countries such as Denmark, Norway, and the United Kingdom. In relation to this, Sweden has had one of the highest tax quotas in the world since the 1960s. Countries such as France, Belgium, and Denmark have very similar taxation rates. Swedens taxation plan is known as a two-step progressive plan. The average municipal income tax is around 31% to 56% and a capital tax rate of a flat 30%. Single persons with a net riches more than 1,500,000 Swedish Kroner (SEK) (equivalent to 111,280) are taxed a flat rate of 1.5%. (Economy of the European Union.). Employers are obligated to pay a 32% tax which is called an employers fee. Other taxes in Sweden include the national Value Added levy (VAT) of 18% or 25%, food carries a 12% VAT, and transportation and books are taxed at 6%. Miscellaneous items such as petroleum and alcohol are taxed at higher rates. Due to the high tax rates, Swedes are eligible for many government funded benefits such as