SeigniorageSeigniorage ˈseɪnjərɪdʒ, also spelled seignorage or seigneurage (from the Old French seigneuriage, "right of the lord (seigneur) to mint money"), is the difference between the value of money and the cost to produce and distribute it. The term can be applied in two ways: Seigniorage derived from specie (metal coins) is a tax added to the total cost of a coin (metal content and production costs) that a customer of the mint had to pay, and which was sent to the sovereign of the political region.
Canadian dollarThe Canadian dollar (symbol: ;code:CAD;dollarcanadien)isthecurrencyofCanada.Itisabbreviatedwiththedollarsign. There is no standard disambiguating form, but the abbreviations Can,CA and Carefrequentlyusedfordistinctionfromotherdollar−denominatedcurrencies(thoughC remains ambiguous with the Nicaraguan córdoba). It is divided into 100 cents (¢). Owing to the image of a common loon on its reverse, the dollar coin, and sometimes the unit of currency itself, may be referred to as the loonie by English-speaking Canadians and foreign exchange traders and analysts. University of LiverpoolThe University of Liverpool (abbreviated UOL; locally known as The Uni of) is a public research university in Liverpool, England. Founded as a college in 1881, it gained its Royal Charter in 1903 with the ability to award degrees, and is also known to be one of the six 'red brick' civic universities, the first to be referred to as The Original Red Brick. It comprises three faculties organised into 35 departments and schools. It is a founding member of the Russell Group, the N8 Group for research collaboration and the university management school is triple crown accredited.
Gresham's lawIn economics, Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value, the more valuable commodity will gradually disappear from circulation. The law was named in 1860 by economist Henry Dunning Macleod after Sir Thomas Gresham (1519–1579), an English financier during the Tudor dynasty. Gresham had urged Queen Elizabeth to restore confidence in then-debased English currency.
Income taxAn income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate.
BanknoteA banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the market served by the issuing bank.
British Overseas TerritoriesThe British Overseas Territories (BOTs), also known as the United Kingdom Overseas Territories (UKOTs), are fourteen territories with a constitutional and historical link with the United Kingdom, but do not form part of the United Kingdom itself. The permanently inhabited territories are internally self-governing, with the United Kingdom retaining responsibility for defence and foreign relations. All of the territories are inhabited by civilians, except three which are chiefly or only inhabited by military or scientific personnel.
Kingdom of Great BritainThe 'Kingdom of Great Britain, officially Great Britain', was a sovereign country in Western Europe from 1 May 1707 to the end of 31 December 1800. The state was created by the 1706 Treaty of Union and ratified by the Acts of Union 1707, which united the kingdoms of England (which included Wales) and Scotland to form a single kingdom encompassing the whole island of Great Britain and its outlying islands, with the exception of the Isle of Man and the Channel Islands.
Labour Party (UK)The Labour Party is a political party in the United Kingdom that has been described as an alliance of social democrats, democratic socialists, and trade unionists. The Labour Party sits on the centre-left of the political spectrum. In all general elections since 1922, Labour has been either the governing party or the Official Opposition. There have been six Labour prime ministers and thirteen Labour ministries. Since the 2010 general election, it has been the second-largest UK political party by the number of votes cast, behind the Conservative Party and ahead of the Liberal Democrats.
Fixed exchange rate systemA fixed exchange rate, often called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a monetary authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold. There are benefits and risks to using a fixed exchange rate system. A fixed exchange rate is typically used to stabilize the exchange rate of a currency by directly fixing its value in a predetermined ratio to a different, more stable, or more internationally prevalent currency (or currencies) to which the currency is pegged.
