Uk economy Flashcards
how has the UK economy changed
- Big shift to the tertiary service sector
- primary and secondary have decreased due to new technology
- jobs in quaternary sector have developed since the 1980s
what are the causes of economic change
deindustrialisation
- decline of traditional industries due to new machines and technology replacing people, and other countries (e.g. China) can produce cheaper goods as labour is less expensive
Globalisation
- the growth and spread of ideas around the world
- many people now work in the quaternary sector
- increased world trade and cheaper imported products have contributed to decline of UK manufacturing
Uk’s post industrial economy
manufacturing industry declines and is replaced by growth in service and quaternary sectors
Development of information technology
- internet enables work from home
- over 1.3 million employed
- UK is one of the world’s largest leading digital economies
Service industries and finance
- 79% of UK’s GDP
- world’s leading centre for financial services
- financial services sector is 10% of UK’s GDP
Research
- employs over 60,000
-over £3 billion to UK economy
- NHS, BBC, charities, Universities, Business and financial companies, environment agency, pharmaceutical.
Science Park
group of scientific knowledge based businesses on a single site
Southampton Science Park
-100 small science innovation businesses e.g. Fibrecore, PhotonStar
Benefits
- transport links- M3, international airport, rail
- links with University
-attractive location with green areas
Exeter science park environmental
Overall carbon reduction-
- aim to reduce co2 emissions by over 20% through green technologies
- reduction in buildings energy requirement through technologies like solar shading, increased insulation, energy efficient fittings, renewable technologies
Sustainable transport-
- links east of exeter growth point to exeter
- 10 mins into the city with train
- cycle and bus link
Electric car charging points, enhanced opportunities for car sharing
Landscaping
- opportunities for relaxation, sport and recreation
- central square with retail, cafe, gym, hotel, business hub
Water efficient appliances
Aided/protected wildlife
Sustainable drainage system
Local economy- creation of construction permanent jobs
segregated recycling facilities and onsite composting
Exeter growth point
- around area of Sowton in East Exeter
- business park which includes large companies like Met office, The science park and the skypark
- close to Exeter airport and M5 junctions
Has vision to support the local existing economy, meet the housing needs for its residents, longer term sustainable growth
Met office-leading organisation in climate research and information, Seedata- cyber security deception company, rezcomm-combined platform for airport sales, marketing and customer centric analytics
around 25,000 new homes and 25 000 opps for recreation, sport ,leisure, wildlife
Torr Quarry, Somerset
limestone quarry in Mendip Hills
a sustainable modern industrial development
- employs 100
- £15 million to local economy each year
- quarry is being restored to create wildlife lakes
- monitoring of noise, dust and water quality
- rail transport of quarried rock minimises impact on local roads and villages
South Cambridgeshire
-population of 150,000 is increasing- migration
-people aged over 65 is growing
social effects
- 80% car ownership- traffic
- housing developments lead to less community spirit
- young people move away- inaffordable high cost of houses
economic effects
- reduction in agricultural employment as farmers sell land for housing
- lack of affordable housing
- high demand- high petrol prices
- increased pop. pressures services
Outer Hebrides
- pop. declined more than 50% since 1901
- limited employment so young people moved away
Social effects
- less children so school closures
- increasingly ageing pop. have fewer young people to support them
Economic effects
-services closing
-farms only provide 2 days of work a week
- increase in tourism but
- infrastructure cannot support the scale of tourism needed to provide an alternative source of income.
Uk road improvements
2014 ‘road investment strategy’
-100 new road schemes
-1300 lane miles added to motorways
- extra lanes
new road schemes create thousands of construction jobs to boost economies
South West ‘super highway’
- £2 billion road-widening project on A303
- convert to dual carriageway
UK rail improvements
- improving trans-pennine rail links reducing journey time by up to 15 minutes
- HS2- planned high speed rail connects London to Birmingham to Manchester- controversial- passes through countryside
London’s Crossrail
- across London that links to reading, heathrow, abbey wood and shenfield
-reduce journey time
- additional 1.5mil people within 45 mins of London’s business districts
Developing UK’s ports
-32 mil travel through UK ports each year
-120,000 jobs
- Bristol, Felixstowe and Harwich upgraded
Liverpool 2
new container terminal
- 2x port capacity
- 1000s jobs
-boost regional economy
- reduced freight traffic on roads
Uk airport developments
- create vital global links
- 1000s jobs
- boost economic growth
- 3rd runway at heathrow- £18.6 bil
- predicted to make jobs and more money for UK
- locals concerned about noise and air pollution from planes
North- South divide
South
- higher incomes
- longer life expectancies
- higher house prices
- traffic congestion
London and South East developed more rapidly due to a fast-growing service sector after industrialisation was prominent in the North
UK’s links with wider world
Trade
- important links with EU
- USA important historic trading partner
- recent increase in trade with China
Transport
- Heathrow is one of the busiest airports in the world
- links between UK and mainland Europe
Electronic communication
- 99% of internet traffic passes along network of submarine high-power cables
- connections concentrated between UK and USA
- Arctic Fibre project due to connect London and Tokyo
Culture
- global importance of the english language has given UK strong cultural links with parts of the world
-music, book, films from UK are accesses from all over the world
- migrants have brought their own culture
-television- most successful media export in UK- £1.28bil of earnings (2013-14)
