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Geography > Changing UK Economy > Flashcards

Changing UK Economy Flashcards

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1
Q

Cause of Economic Change

DE-INDUSTRIALISATION

A

1 - Industrial base has declined due to increased automation = JOB LOSSES

2 - Increased competition abroad as goods are being produced more cheaply = forced some UK industries to close

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2
Q

Cause of Economic Change

GLOBALISATION

A

1 - A lot of manufacturing moved overseas - labour costs are lower

2 - Some TNC’s have moved there tertiary and quaternary operations to the UK

3 - Increases in foreign trade = Increases in UK GDP

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3
Q

Cause of Economic Change

GOVERNMENT POLICIES

A

1 - PRIVATISATION of key manufacturing industries led to major job loses

2 - DE REGULATION - removing taxes on business to encourage entrepreneurs

3 - TRADE AGREEMENTS - make it easier to trade across the world

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4
Q

Why has DE-INDUSTRIALISATION occurred

A

Since 1960’s manufacturing has declined = rise in tertiary and quaternary industries. This is due to overseas competition = cheaper production

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5
Q

Moving towards a POST INDUSTRIAL ECONOMY

SERVICES

A

SERVICES

1 - Retail & Entertainment - 4M people in UK

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6
Q

Moving towards a POST INDUSTRIAL ECONOMY

IT

A

IT

1 - Major IT businesses EG Microsoft & IBM employ 3/4 M people in the UK

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7
Q

Moving towards a POST INDUSTRIAL ECONOMY

FINANCE

A

FINANCE

1 - Home to many global financial institutions Eg - HSBC

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8
Q

Moving towards a POST INDUSTRIAL ECONOMY

RESEARCH

A

RESEARCH
1 - R&D investment - maximising UK’s skilled graduates

UK economy’s main growth area in the future:

  • NHS
  • Pharmaceutical companies
  • Engineering
  • Universities
  • Biotechnology
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9
Q

Moving towards a POST INDUSTRIAL ECONOMY

SCIENCE & BUSINESS PARKS

A

SCIENCE & BUSINESS PARKS
A group of scientific and technical knowledge-based businesses located on a single site

Mostly associated with universities → use research facilities + employ skilled graduates

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10
Q

SCIENCE PARK EG - University of Southampton Science Park

A
  • Includes a hundred small science and innovation businesses

- Strong links with the university of Southampton

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11
Q

BUSINESS PARK EG - Cobalt Business Park - NE England

A
  • North-East of England
  • UK’s largest business park
  • Companies located there include:
  • IBM
  • Santander
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12
Q

How do science + business parks provide opportunity for regional and economic growth?

A
  • Needed mostly in areas in the north-west → Manchester + Liverpool
  • Cobalt business park has inspired economic growth → attracting new business + investment
  • Areas like these are footloose → don’t require large areas of land + don’t need to be near an energy or raw materials source
  • Transport links
  • Retail opportunities, cafes + gyms → people spend money to boost the economy + cause multiplier effect
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13
Q

Impact of ROADS on Economic Development

A

1 - SMART MOTORWAYS - more capacity - extra lanes
EG M4

2- Plans for 400 miles of new road 2015 - 20
EG Dual carriageways - A5 - M1

Positives - Create thousands of construction jobs + boost local + regional economies

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14
Q

Impact of ROADS on Economic Development

EXAMPLE - South-West ‘super highway’

A

£2 billion road widening project for the next 15 years to Plymouth and further

Positives
- Creates hundreds of construction jobs → economic

  • Reduces journey time
  • Benefit world heritage site by improving the environment for wildlife

Negatives
- Heavy traffic in construction and after → environmental

  • Constant noise → social
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15
Q

Impact of RAILWAYS on Economic Development

A

1 - CROSS RAIL - increase central London rail capacity 10%

2- HS2 - London ⇢ B’ham ⇢ Leeds ⇢ Manchester

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16
Q

Impact of RAILWAYS on Economic Development

EXAMPLE - London Cross Rail

A
  • Links Reading and Heathrow to Sheffield and Abbey Wood
  • £14.8 Billion → involves 32 km of tunnels under London

POSITIVES
- Improve Journey times across London

  • Better connections to the underground
  • Bring additional 1.5 million people within 45 mins commuting distance of London’s key business districts
  • Mainline trains operating on the lines will carry 1500 passengers
17
Q

Impact of AIRPORTS on Economic Development

A

UK Govmt - keen to invest in a third runway at Heathrow - cost £18.6 billion

18
Q

Impact of AIRPORTS on Economic Development

EXAMPLE - HEATHROW 3RD RUNWAY - Positives

A
  • Providing more jobs
  • improving landscapes
  • Enhancing public transport hubs
  • Green loop around the airport → connecting local communities with new walking and cycle routes
  • Be one of the most sustainable hub airports in the world
19
Q

Impact of PORTS on Economic Development

EXAMPLE - LIVERPOOL 2

A

LIVERPOOL 2
Deep water quay costing £300 million

Double ports capacity to 1.5 containers a year

Positives
- Creates jobs

  • Boosts the economy of the North-West
  • Reduces the amount of freight traffic on roads
  • Improves transatlantic trade links
20
Q

What is The North South Divide

A

Cultural and economic differences between the South of England and the North created by;
1 - De industrialisation

2 -South developed rapidly due to a fast growing service sector

SOUTH
Higher incomes
Enjoys higher standard of living,
Longer life expectancy
Better GCSE Results
NORTH
Lower incomes
Lower standard of living,
Lower life expectancy
GCSE Results in midlands and North = Lower
21
Q

What plans are in place to resolve regional differences

DEVOLUTION OF POWER

A

DEVOLUTION OF POWER to Northern Ireland, Scotland and Wales to allow better allocation of public spending

22
Q

What plans are in place to resolve regional differences

ENTERPRISE ZONES

A

15 ENTERPRISE ZONES being created across England Scotland and Wales = jobs and income.

Companies gain benefits to set up in these locations - Reduced taxes
Simpler planning rules
Financial benefits
Improved infrastructure

23
Q

What plans are in place to resolve regional differences

THE NORTHERN POWERHOUSE

A

THE NORTHERN POWERHOUSE

The Governments plan to reduce inequality by attracting investment to the North and improving transport links

24
Q

UK and the WIDER WORLD - TRADE

A

TRADE

UK trades globally - Most importantly US, ASIA and EUROPE.

25
Q

UK and the WIDER WORLD - CULTURE

A

CULTURE
UK’s strong creative industries Peppa Pig - exported all over the world.

Immigration has brought cultural interest - food, art, music

26
Q

UK and the WIDER WORLD - TRANSPORT

A

Channel Tunnel

Heathrow - national hub

27
Q

UK and the WIDER WORLD - ELECTRONIC COMMUNICATIONS

A

Strong Phone and Internet links - transatlantic cables

28
Q

UK and the WIDER WORLD - POLITICAL GROUPINGS

A

EU - Up until 2019 UK was an EU member - providing an economical and political partnership

THE COMMONWEALTH - An association 53 states incl UK promotes co operation between member though trade aid and sport

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