Economy of UK Flashcards
What are the six ways we are moving towards a post industrial economy?
IT service industry finance research science parks business parks
What is a post industrial economy?
where manufacturing industry declines to be replaced by growth in the service sector and corresponding development of a quaternary sector
explain how IT is helping to move to a post industrial economy?
- enables people to work from home
- some businesses are directly involved in IT, manufacturing hardware and developing software
- over 1.3 million work in IT sector
- Uk is one of worlds leading digital economies attracting interantional work
What are the benefits of IT?
- data can be stored and accessed quickly
- can communicate instantly
- develops at rapid pace
- can access internet with phones or tablets
How is service industries helping move to a post industrial economy?
Produce services rather then products
- contributes to 79% of UK economic output
How is finance industries helping move to a post industrial economy?
Includes banking, insurance.
- UK is world leading centre for financial services.
- finance sector accounts for 10% of UK GDP
- employs over 2 million people
How is research helping to move to a port industrial economy?
- employs over 60000 highly qualified people
- contribute over 3 Billion to UK economy
- done in universities or private companies.
- most liekly to be UK economy’s main growth in future
What is a science park?
a group of specific and technical knowledge based businesses located on a single site
- 75000 people work in UK science parks
What is a business park?
area of land occupied by a cluster of businesses
why are business parks located on the edge of towns?
- land is cheaper
- more land available so may be able to extend
- businesses can benefit from working together
- access is better for workers
Give an example of a science park?
University of Southhampton science park
Describe University of south hampton science park?
- 100 small science and innovation businesses Has companies such as: - Fibrecore - Photonstar - Symetrica
What are the benefits of University of southhampton science park?
- link to university providing facilities and talent
- source of graduate employees
- attractive location, with extensive green areas and woodlands
- meeting rooms, coffee shop, high speed broadband, nursery and health club available
- good transport links
Explain a business park in the UK?
COBALT BUSINESS PARK - UK largest
- support facilites of retail outlets
- recreation - fitness centre, cycleways and green spaces
- close to A1 rode and 20 min from international airport
- businesses qualify for government assistance
What are the four transport developments in the UK?
- road
- rail
- ports
- airports
Explain road developments in the UK?
- in 2014 government announced 15 billion ‘road investment strategy, plans included:
- 100 new road schemes by 2020
- 1300 new lane miles on motorway
- extra lanes added to motorways “smart motorways”
What is the southwest super highway?
Q303 is main route to south-west but can heavily congested due to dual and single carriageways
2 billion road widening project will create jobs and a full dual carriageway and road to plymouth and beyonf
Explain railway improvements?
- electrification of Trans-Pennine Express Railway between manchester and York saving 15 minutes
- Electrification of midland mainline by 2023
- HS2 -50 billion plan for high speed train to connect major UK cities for completion in 2033
- 14.8 billion plan for railway between heathrow and reading
Explain the development of ports?
- UK port is largest in Europe
- 32 million passengers travel through Uk port per year
- employ over 120000 people
- private ports inclue: Belfast, Bristol and Felixstowe and Harwich
Explain a port expansion?
Liverpool2
- new container terminal is being constructed
- cost 300 million
- will end up with capacity of 1.5 mill containers a year
- create thousands of jobs
- boost north west economy
reduce freight traffic on roads
Explain airport developments?
- 3.6 % of Uk GDP
- employs over 300000 people
- more then 750000 international flights depart from UK annually
- over 420000 domestic flights
Explain an airport expansion method?
- new runway at heathrow, 18.6 billion
- increasing length of existing runway, 13.5 billion
- many people dislike as noice pollution but government to give financial support for soundproofing schools and homes and ban on night time flights
