Th2.6: Policies - Improve Skills/Quality of Labour Force

Question 1

What are the three ways the UK could improve skills/quality of labour of its workforce?

Answer 1

introduce regulation
increase spending on education and training
increase in high skilled migrants

Question 2

What would increasing spending on education and training do?

Answer 2

create a more educated workforce who will be more efficient and be able to do more skilled jobs, increasing the number of goods and services produced

Question 3

What could introducing regulation do?

Answer 3

force businesses to continuously train their own staff to keep them up with developments

Question 4

What could an increase in high skilled migrants do?

Answer 4

improve the quality of the workforce - the government has introduced more lax rules for immigration

Question 5

Overall, what will an improvement in skills mean?

Answer 5

that workers are more efficient and so can produce more goods and services as well as being more skilled so be able to develop new technology

Question 6

However, how could an improvement in education go wrong?

Answer 6

it may have no effect if it is in skills not relevant to the workforce. it will also create an opportunity cost, meaning government money will be lost in other sectors. also takes time