Government Economic Policy

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  • Government Economic Policy
    • Supply Side Policy - Labour Market
      • Trade Unions
      • State Welfare Benefits
      • Minimum Wages
      • Tax Rate
      • Make Easier to hire and fire
        • Zero Hour Contracts
      • Taxes on Labour. Laffer curve
      • Reducing the cost of changing jobs
        • Allow private pensions to transfer between jobs
      • Education and training
    • Supply Side Policy-The Financial and Capital Market
      • Deregulation
        • Greater competition among banks and building societie
      • Encouraging Saving
        • Tax Privileges for Savings
      • Reduction for Public Sector Borrowing
        • This is to avoid crowding out
      • Promote Entrepreneurs
    • Supply Side Policy- Goods Market
      • Deregulation
        • Remove barriers to entry to encourage competition. In NI more than one gas company.
      • Privatisation
        • Eg Royal Mail
      • Subsidies
    • Fiscal Policy
      • Government Expediture
        • Transfer Payments
        • Current Government Spending
        • Capital Spending
      • Taxation
        • Direct
        • Indirect
        • Progressive
        • Regressive
        • Proportional
      • Borrowing
        • Public Sector Net cash requirement
        • The national debt
        • Budget deficit or surplus
    • Monetary Policy
      • Interest Rate
        • Expansionary = low. Contractionary = high
      • Exchange Rate
        • Expansionary =weak (SPICED). Contractionary = strong
      • Money Supply
        • Expansionary = Money allowed to grow. Refer to quantitative easing in 2009. BOE buys bonds from commercial banks.
        • Contractionary = Money restricted

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