Supply Side Policies

Question 1

What is the national productivity fund?

Answer 1

£31 billion

Question 2

Education supply side policy #1

Answer 2

£400m school funding 2019
Greater funding for schools
On average £50,000 more to secondary, £10,000 more to primary

Question 3

Education supply side policy 2

Answer 3

More funding for schools to attract more to take maths and computer science A-Levels, so to improve productivity in the future

Question 4

Education SS policy 3

Answer 4

Curriculum reform
A-Level, GCSE & Primary
To improve results in schools and boost productivity
Introducing T-Levels, practical based A-Levels to replace A-Levels for those who want to go into more practical routes post-school

Question 5

Education SS policy 4

Answer 5

Government spending on apprenticeship schemes & an apprenticeship levy has been introduced where firms have to spend a certain % of worker costs on apprentices

Question 6

Education SS policy 5

Answer 6

Subsidies and grants for adult training

Question 7

Healthcare

Answer 7

NHS budget increasing by £20.5 billion above inflation by 2023
To promote a more healthy and productive workforce

Question 8

Infrastructure SS policy 1

Answer 8

£28.8 billion 2020-25 as part of a National Roads fund (improve. Maintain roads and solve congestion issues)

Question 9

Infrastructure SS policy 2

Answer 9

Rail infrastructure projects:

1. Cross rail: connecting Reading to Far East London, nearly finished. Improve rail capacity with and around London. £18 billion. Largest infrastructure project in Europe atm
2. Announced HS2, Leeds to London. Improve geographical immobility of labour. Estimated £60 billion

Question 10

Infrastructure SS policy 3

Answer 10

£1 billion on digital infrastructure

Improving 5G mobile networks access. And connecting more houses with full fibre networks

Question 11

Income tax cuts

Answer 11

Tax free allowance: £6,500 to £12,500

Encourages people outside labour force to work, and incentive for increased productivity

Question 12

Income tax cut 2

Answer 12

40% threshold starts at £50,000

Question 13

Investment incentives

Answer 13

£1m investment tax free allowance

Question 14

Investment incentive 2

Answer 14

Tax relief for SMEs who engage in r and d

Question 15

Welfare reform 1

Answer 15

Introduction of universal credit
One means tested benefit
To get rid of lots of existing benefits like housing, child, tax credit, UE,
Incentive to get people into work

Question 16

Universal credit welfare caps

Answer 16

Create incentive to not rely on welfare

Question 17

Deregulation

Answer 17

Got rid of unnecessary Housing market planning permission regulation. Easier to build houses to deal with supply issues and hopefully make housing more affordable

Question 18

Deregulation 2

Answer 18

£10bn Red tape cut

Makes it easier to do business
Done this by saying for every bit of new regulation they’ll get rid of 3
Encourage businesses to find unnecessary regulations that they can get rid of too

Question 19

Trade liberalisation

Answer 19

Post-Brexit trade deals
Want to be a free trade UK economy
Boost competition and efficiency as more open to competition