The Changing UK Economy
- Created by: Jo Peters
- Created on: 19-03-19 10:39
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- The Changing UK Economy
- Causes of Economic Change
- Deindustrialisation
- Closing down factories as it is cheaper to manufacture in NEEs and LICs
- Decline of traditional industries
- Moving from manufacturing to service industries
- Globalisation
- Trans National Corporations
- Unilever in Nigeria
- Headquarters in London and Rotterdam
- Produces food, drink and household items
- Employs 1500 Nigerians
- Promotes improvements in healthcare, education and water supply
- Unilever in Nigeria
- Trans National Corporations
- Government Policies
- 1945-79 State run industries e.g. National Coal Board and British Rail
- 1979-2010 State run companies sold off to the private sector
- 2010 onwards rebalancing the economy - improve transport, easy access to money, more investment
- Deindustrialisation
- Post industrial economy
- Development of IT
- Service industries and finance
- Development of call centres
- Research and development
- Graduate industry
- Science and business parks
- Cambridge Science Park
- Cobalt business park
- Social and economic changes in rural area
- South Cambridgeshire - population increase
- Ageing population - people move there to retire
- Migrant workers on the farms make up a large % of the population
- High tech industries located close by
- High employment levels
- Outer Hebrides - population decrease
- Limited job opportunities
- Low wages
- Decrease due to migration to the main land
- Few young children
- South Cambridgeshire - population increase
- The North South Divide
- Why it exists
- Industrial revolution focussed on the north and west of the UK
- 1970s saw a decline in traditional industries e.g. coal mining, steel mills
- Factories closed down and people lost their jobs
- London and SE developed tertiary industries
- Ways to reduce the divide
- High speed rail service HS2 promised between London and the North West
- Upgrade the M62
- Mersey Gateway opened to allow access to deep water port
- New Liverpool2 deep water port
- Local Enterprise Partnerships
- Aim is to identify business needs and get investment
- Enterprise Zones
- Encourage businesses to set up in new places
- Businesses supported by the government
- Encourage businesses to set up in new places
- Why it exists
- UKs links to the wider world
- Trade - EU, USA and China
- Culture - multi cultural society, food, beliefs, fashion, music, films and festivals
- Transport - international airports and ports, channel tunnel
- Electronic Communication - 99% of the country has access to electronic communication
- The EU
- Most important trading partner currently
- Creates many of our laws
- Large proportion of our work force is from EU countries
- Financial support and investment
- The Commonwealth
- Countries that were our colonies
- Trading links between them
- Causes of Economic Change
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