1. The UK government policy under the effect of The Employment Act 2008, has bolstered, simplified and clarified all the aspects of the UK Employment Law. This policy has brought the elements of the government’s and the worker’s employment relation strategies under the single umbrella of increased protection of the workers and have taken care of business policy that abides the law of the forum. The same has been introduced in the House of Lords on 6 December 2007, subsequently received Royal Assent on 13 November 2008 (BERR 2009).
The open source model has the unique community platform based communication style where the amendments can be accessed by all the other EU members who can regulate their employment issues in the line up of what UK has done. The power to edit and introduce information from the individual end will enable the member countries to modify, if required or even suggest; any required information on the same issue. This will create a path to build a mutual ground of taking vital issues in consideration.
2. Inflation Policy: The Inflation Policy is subjected to the government’s target announcement each year by the Chancellor of the Exchequer during the annual Budget statement. Presently the target has been set to 2% in terms of annual rate of interest calculated upon the consumer price index (CPI). Keeping the inflation target symmetrical the remit is not to achieve the lowest as it well worsen the situation like in case of crossing the target above.
The policy defines the standing instruction of not to miss the mark even by 1% point, missing which will result in pushing the annual rate of CPI inflation more than 3% or dropping down to less than 1%. The target of 2% does not mean it to be the constant rate, for it is neither possible nor desirable. By and large, the interest ate should keep on changing constantly to keep the unnecessary uncertainty and volatility in the economy at bay.
The Monetary Policy Committee is putting more effort to revise the interest rate further to bring back the inflation target within a reasonable span of time avoiding undue instability in the economy (Bank of England 2009). To justify the argument the business model can support the monetary policy system of UK with the EU members as the ECB is also aiming at inflation rates of below, but close to, 2% over the medium term.
Thus, the model can be the virtual platform to observe the inflation index of both UK and EU; preparing and safeguarding the multi-lateral business issues, enabling the safe future of the European community of single market (European Central Bank 2009). 3. Education and Training Policy: In the Education and Training Policy of UK government a high quality of response has been located in the further education sector.
It is of prime importance to spread education across the society, putting emphasis on the businesses, young people and adults, including those from disadvantaged and minority communities if UK wants to realize its economic performance. As per the white paper of 2006 and World Class Skills 2007 a comprehensive reform programme is in place. It is working on the area of skills, employability and social mobility, which are not possible with the help of the training providers.
By the year 2020 there is a pre-defined goal of considerable investment for development of skills by the employers with further new vistas for continuous education and training (DIUS 2009). With an interactive business model in use the education and training policy of UK can be shared by EU. Where the EU Commission is putting efforts to bring the trade and commerce under the one roof, open source model can accelerate the understanding of the training in the business enterprises and will be in a position to standardize the effort and skill.
Education and training being the learning yard stick developed performance and higher return, the model will provide a comprehensive design to learn, share and become a single body of resource through out European Union. VI. Impact on EU and Conclusion: The entire policy listing of the UK government are inter-related and primarily based on the parameters of economic development. UK being a responsible member of EU, the use of open source business model will help UK to gain an edge in the matter of effective communication.
Further this will help the policies introduced to become more comprehensive and acceptable to the other member of EU in terms of cross border business operation and strategies. The uniqueness of the geography of EU and its rules are indicating the physical state of freeness like, the free border cross country road that exists in EU. In terms of concept too, single market is a quantum movement of business conglomerate. At this stage, the effective usage of the proposed business model can make UK the magnet of EU.
Major counselling of policies, economy, business and society can come to UK as the spearheading factors. Through and through the evaluation of this paper, the central theme of the business model and the policies have been the economic barometers and the impact on the EU society. To conclude the long term effect of the Open Source Business Model, it is the hypothetical situation that will help see the distant result. Business being the primary economic driver, the proposed model will unite the member states by its common law.
The heavy involvement of the states under the common legislation through the application of the business model will transform EU to a single nation; with all its member states (countries) as its united states making it the United States of European Union (USEU) or Europa (USE). And United Kingdom (UK) being the moderator of policy and economy, it will be the capital of USEU or USE.
Further Reading • Dinan, D 2004, Europe Recast: A History of European Union. Palgrave Macmillan. • Europa 2009, Gateway to the European Union, <http://europa. eu/index_en. htm>. • EconomyWatch 2099, UK Economic Policy, <http://www. economywatch. com/economic-policy/uk. html>. • FCO 2009, Supporting the British economy, <http://www. fco. gov. uk/en/fco-in-action/british-economy/>. • Hix, S 2005, The Political System of the European Union. The European Union Series (2nd ed. ). Palgrave MacMillan. • Smith, C 2007, International Trade and Globalisation, 3rd edition. Anforme, Stocksfield.