About UK
About UK
Empowering Trust, Securing Wealth – Your Fiduciary Partner in the UK
The United Kingdom, made up of England, Scotland, Wales and Northern Ireland, is an island nation in northwestern Europe. England – birthplace of Shakespeare and The Beatles – is home to the capital, London, a globally influential Centre of finance and culture. England is also site of Neolithic Stonehenge, Bath’s Roman spa and centuries-old universities at Oxford and Cambridge.
Population
66.97 million
Language
English
Currency
Pound sterling (GBP
Political Structure
The United Kingdom operates under a constitutional monarchy and a parliamentary democracy. The political structure is characterized by the monarch as the head of state and a prime minister as the head of government. The UK Parliament is bicameral, consisting of two houses: the elected House of Commons and the appointed House of Lords. The House of Commons holds significant legislative power, with members elected through general elections. The UK is divided into four constituent countries—England, Scotland, Wales, and Northern Ireland—each with varying degrees of devolved powers, allowing local governments to manage specific areas like health, education, and transport. Overall, the UK’s political system balances centuries-old traditions with modern democratic governance.
Infrastructure and Economy
The UK has a partially regulated market economy. Based on market exchange rates, the UK is today the fifth-largest economy in the world and the second-largest in Europe after Germany. HM Treasury, led by the Chancellor of the Exchequer, is responsible for developing and executing the government’s public finance policy and economic policy. The Bank of England is the UK’s central bank and is responsible for issuing notes and coins in the nation’s currency, the pound sterling. Banks in Scotland and Northern Ireland retain the right to issue their own notes, subject to retaining enough Bank of England notes in reserve to cover their issue.
