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

Regulatory and Economic environment - Essay ExampleSweden and the unify Kingdom ar both members of the European Union (EU). Twelve of these nations are tied together with the common currency, the Euro, and the EUs remaining members are obligated to join by treaty once they meet specific criteria. Sweden and the UK have made no plans as of yet to change to the Euro. The EU is the worlds largest economy, which is projected to grow at a pasture of 2.1% per year. The Growth and Stability Pact insures that each states deficit doesnt exceed 3% of the Gross Domestic Product (GDP), and its public debt must remain infra 60% of their GDP.The United Kingdom is one of the best places in the world to do stem carrel 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 Authority (HFEA) and the strong commitment we have, both financially and politically, from the government. (Rehwagen). Simon Best, chairman elect(ip) of the United Kingdom Bio Industry Association, also 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 position to nominate 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 highly skilled workforce. The World Economic assembly (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 successful payable to many factors such as a very healthy macro-economic environment, easy access to advanced technologies, qualified workforce, good infrastructure, and competitive costs for staff, rent, and business expenses. The unemployment pass judgment of Sweden is highly contested among political officials but the official figure is currently at 5.4% (2006.) (Sweden.). Many Swedes also choose to work abroad in bordering 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 revenue enhancement rates. Swedens taxation plan is known as a two-step progressive plan. The average municipal income tax is around 31% to 56% and a cracking tax rate of a flat 30%. Single persons with a net wealth 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 Tax (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