THE STRUCTURE OF ECONOMY
AGRICULTURE – 2%
o 2% of workforce – engaged in agriculture
o high level of productivity – intensive methods of productions, mechanised agriculture
o Britain produces: wheat, sugar beet, beef
INDUSTRY SERVICES – 98%
History:
o 1780 – 1830 – Industrial Revolution
o sudden economic growth
o industrial centres appeared: Liverpool, Manchester, Birmingham
o value of trade increased
o XIX century England
o workshop of the world
o industries:
o textile
o metallurgy
o mining
o communication
o great achievements:
o Stephenson’s first engine
o Stockton-Darlington railway line
o changing in:
o technological – new inventions
o economic – how much people have
o social – working class appeared
o XX century England
o Britain overtaken economically by the USA and Germany
o struggle to find balance between:
o free marled – to produce more and cheaper
o governmental intervention – Margaret Thatcher
MARGARET THATCHER’S POLICY
o lower taxes
o limit to government spendings – not good for poor people
o no help for inefficient industries
o privatisation
o no aim at full employment
o state less involved in economy
o different type of economy:
o high-tech industries
o small scale enterprise – businesses own by families
o increase in service industry
SELF-EMPLOYMENT encouraged by:
o “enterprise allowance scheme” – for the first year governmental help – lower taxes
o services 2/3 of employment
o the biggest growth:
o banking
o finance
o insurance
o law
o advertising
o catering
o entertainment
PRIVATE INDUSTRY
o public companies e.g. banks, insurance companies
o local councils
o investment trust
o private companies
WORKING WEEK
o 37-40 hours
o 35-38
o no statuary entitlement to holidays
o generally 4-5 weeks + bank and public holidays
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