Topic 4 EQ 3 Flashcards
What is the Northern Powerhouse?
Plan to make North rival to the south’s economies
Example of inequality in infrastructure between London and the North
£2959 per year per person in London is spent on infrastructure but is £5 in North
Policies in the Northern powerhouse
Electrify trains to make them faster and cheaper in cities such as Manchester.
£600 million investment is hoped to increase economic growth by £2.4 billion
Infrastructure investment to connect the industrial towns and cities in the North.
How does lack of infrastructure widen inequality?
Connectivity is key for economic growth
Road connecting Newcastle and Scotland is still a single carriage way
Why are planning laws in place?
To limit the negative impacts on the environment, economic and social
Reasons for house price rise
Single owner occupancy, longer life expectancy and a lack of housing supply
Why has it been made easier for local councils to win approval for fracking?
UK is forced to import nearly 70% of its gas since 2020 so govt regulations are being loosened to make it easier.
What are the British Geological societies estimates of meters cubed of shale gas in the North of England?
37 million m3 - national interest to invest
Oppositions to fracking
2011, drilling in Blackpool led to minor earthquakes
2015, Lancashire County was expected to approve a plan to start drilling but faced local opposition so the plans were rejected
What did Thatchers economic liberalisation policies lead too?
- London stock exchange is one of the biggest in the world
- city of London has lawyers accountant and consultants and there overall worth is over £90billion
- wealth was reinvested in the London docklands to create Canary Wharf
HSBC reaction to tighter financial regulation in London
Threatened to leave for Asia so the UK govt proposed a banking levee
Positive consequences of the Ascension 8 joining the European Union
1.2 million poles settled in towns like slough and Corby which led to fast growth.
How has Corby benefited from ascension 8 migrants ?
Corby was previously a town with an ageing population and poorly skilled workforce. As Eastern European Entrepreneurs have moved there and set up businesses such as restaurants, bakeries and constructions firms. Since 2006 property crime and anti social behaviour have halved
Example of local govt being keen to encourage investment and innovation
Since the 1970s, cities have worked with major unis to focus on commercialisation of research by ensuring the right infrastructure is set up such as broadband.
Cambridge Science park
Concerted effort to utilise its scientific expertise to increase wealth.
Opened with both startups and large TNCs such as AstraZeneca , Toshiba and Microsoft