Економіка Великобританії

11

МІНІСТЕРСТВО ФІНАНСІВ УКРАЇНИ                                                   ХАРКІВСЬКИЙ ІНСТИТУТ ФІНАНСІВ УКРАЇНСЬКОГО ДЕРЖАВНОГО                         УНІВЕРСИТЕТУ ФІНАНСІВ ТА МІЖНАРОДНОЇ ТОРГІВЛІ                

   (ХІФ УДУФМТ)

ІНДИВІДУАЛЬНЕ НАВЧАЛЬНО-ДОСЛІДНИЦЬКЕ ЗАВДАННЯ                   

з дисципліни « Іноземна мова »

Тема: «Економіка Великобританії»

Керівник роботи                                                                         Виконала

_________ Н. М. Ступницька                                                   Студентка І курсу                                                                                                                                             

(підпис)                                                                                       групи 12о

23.03.11                                                                                       Зайцева А.О.

                                                                                                      23.03.11   

2011

PLAN

Introduction.

1.      Economic history of the United Kingdom.

1.1. Post-war recovery.

1.2. Neoliberalism.

1.3. 21st century. The 2008 recession and quantitative easing.

2.      Production industries.

2.1. Manufacturing.

2.2. Mining and quarrying.

3.      Service industries.

3.1. Financial and business services.

3.2. Education in the United Kingdom.

3.3. Healthcare in the United Kingdom.

4.      United Kingdom budget.

Used literature.

INTRODUCTION

Great Britain is highly industrialized, this was the country in which the earliest developments of modern industry took place.

London, the capital, is one of many important industrial centers. Lots of things such as clothes, food, planes and cars are made in and around London.

Birmingham is the biggest town in an important industrial area near the centre of England. Machines, cars and lorries are made in this area. TV sets and radios are also produced there.

Manchester in the north-west of England is the centre of the cotton textile industry, one of Britain's most important producers of computers and electronic equipment.

Coal-mining is important in South Wales, but many of the mines5 there have been closed. There is much unemployment in South Wales today. A smaller industrial area is situated in North Wales, where steel6 and chemicals are produced.

Ship-building is an important industry in the United Kingdom. The main ship-building centers are London, Glasgow in Scotland, Belfast in Northern Ireland and some others.

Sheep can be seen in many parts of England and Scotland, and there are a lot of cattle-farms and farms where milk, butter and cheese are produced. But only half of the food the country needs is produced by British agriculture.

Wheat is grown in the east of England. Vegetables are grown in all parts of England, especially in the south. Potatoes are grown everywhere on the British Isles.

Some kinds of fruit, especially apples, can grow in the south where the temperature is higher and there are more hours of sunshine than in the northern regions.

1. ECONOMIC HISTORY OF THE UNITED KINGDOM

1.1. Post-war recovery.

Following the end of World War II, there was a long interval without a major recession (1945–1973) and a growth in prosperity in the 1950s and 1960s. The annual rate of growth (percentage change) between 1960 and 1973 averaged 2.9%, although this figure was far behind the rates of other European countries such as France, West Germany and Italy.

However, following the severe shock of the 1973 oil crisis and the 1973–1974 stock market crash, the British economy had fallen into recession by the time Edward Heath's Conservative Party government had been ousted by the Labour Party as Harold Wilson moved into office for the second time. GDP had fallen by 1.1%, recording weaker growth than other European nations in the 1970s overall; even when the recession ended in 1975, the economy was still blighted by double-digit inflation and unemployment was rising, though the figures levelled off by the election of 1979.

1.2. Neoliberalism.

A new period of neo-liberal economics began in 1979 with the election of Margaret Thatcher. During the 1980s most state-owned enterprises were privatised, taxes cut and markets deregulated. However, Mrs Thatcher's modernisation of the British economy was far from trouble free; her battle against inflation resulted in mass unemployment with the jobless count passing 3,000,000 by the start of 1982. This was in part due to the closure of outdated factories and coalpits which were no longer economically viable. Unemployment peaked at nearly 3,300,000 during 1984 before falling dramatically in the final three years of the decade, standing at just over 1,500,000 by the end of 1989.

The Labour Party, led by Tony Blair, came to power in May 1997.During Blair's 10 years in office there were 40 successive quarters of economic growth, lasting until the second quarter of 2008. The previous 15 years had seen one of the highest economic growth rates of major developed economies during that time and certainly the strongest of any European nation. GDP growth had briefly reached 4% in the early 1990s, gently declining thereafter. Peak growth was relatively anaemic compared to prior decades, such as the 6.5% peak in the early 1970s, although growth was smoother and more consistent.

1.3. 21st century. The 2008 recession and quantitative easing.

In the Labour Party's second term in office, beginning in 2001, the party increased taxes and borrowing. The government wanted the money to increase spending on public services, notably the National Health Service, which they claimed was suffering from chronic under-funding.

Growth rates were consistently been between 2% and 3% from 2000 to early 2008 and inflation levelled off at around 2%. The Bank of England's control of interest rates was a major factor in the stability of the British economy over that period.

The UK entered its worst recession since World War 2 in 2008, as part of a global economic downturn. On 5 March 2009, the Bank of England announced that they would pump £75 billion of new capital into the British economy, through a process known as quantitative easing. This is the first time in the United Kingdom's history that this measure has been used, although the Bank's Governor Mervyn King suggested it was not an experiment.

2. PRODUCTION INDUSTRIES

2.1.Manufacturing.

In June 2010 British Manufacturing accounted for 8.2% of the workforce and 12% of the national output. This was a continuation of the steady decline in the importance of Manufacturing to the Economy of the UK since the 1960s, although the sector was still important for overseas trade, accounting for 83% of exports in 2003. The East Midlands and West Midlands (at 12.6 and 11.8% respectively) were the regions with the highest proportion of employees in manufacturing. London Manufacturing had the lowest at 2.8%.

Although the manufacturing sector's share of both employment and the UK's GDP has steadily fallen since the 1960s, data from the OECD shows that manufacturing output in terms of both production and value has steadily increased since 1945. A 2009 report from PricewaterhouseCoopers, citing data from the UK Office for National Statistics, stated that manufacturing output (gross value added at 2007 prices) has increased in 35 of the 50 years between 1958 and 2007, and output in 2007 was at record levels, approximately double that in 1958.

This is a trend common in many mature Western economies. Heavy industry, employing many thousands of people and producing large volumes of low-value goods (such as steelmaking) has either become highly efficient (producing the same amount of output from fewer manufacturing sites employing fewer people- for example, productivity in the UK's steel industry increased by a factor of 8 between 1978 and 2006) or has been replaced by smaller industrial units producing high-value goods (such as the aerospace and electronics industries).

2.2. Mining and quarrying.

The Blue Book 2006 reports that this sector added gross value of £21,876 million to the UK economy in 2004. In 2007 the UK had a total energy output of 9.5 quadrillion Btus (The British thermal unit), of which the composition was oil (38%), natural gas (36%), coal (13%), nuclear (11%) and other renewables (2%). In 2009, the UK produced 1.5 million barrels per day (bbl/d) of oil and consumed 1.7 million bbl/d. Production is now in decline and the UK has been a net importer of oil since 2005. As of 2010 the UK has around 3.1 billion barrels of proven crude oil reserves, the largest of any EU member state.

In 2009 the UK was the 13th largest producer of natural gas in the world and the largest producer in the EU. Production is now in decline and the UK has been a net importer of natural gas since 2004. In 2009 the UK produced 19.7 million tons of coal and consumed 60.2 million tons. In 2005 it had proven recoverable coal reserves of 171 million tons. It has been estimated that identified onshore areas have the potential to produce between 7 billion tonnes and 16 billion tonnes of coal through underground coal gasification (UCG). Based on current UK coal consumption, these volumes represent reserves that could last the UK between 200 and 400 years.

3. SERVICE INDUSTRIES

The service sector is the dominant sector of the UK economy, a feature normally associated with the economy of a developed country, and makes up about 73% of GDP. This means that the Tertiary sector jobs outnumber the Secondary and Primary sector jobs. The service sector is dominated by financial services, especially in banking and insurance. London is a major centre for international business and commerce and is the leader of the three "command centres" for the global economy (along with New York City and Tokyo). It is also a major legal centre, with four of the six largest law firms in the world headquartered there.

3.1. Financial and business services.

London is a global hub for financial services and commerce, ranking above New York on the Global Financial Centres Index for competitiveness. Based on two districts, the country's capital houses 'The City' (the City of London) and the Docklands (particularly around Canary Wharf). The City houses the London Stock Exchange (shares and bonds), London Metal Exchange (base metal and plastic futures), Lloyds of London (insurance), and the Bank of England. The Docklands began development in the 1980s and is now home to the Financial Services Authority and financial institutions. There are now over 500 banks with offices in the City and Docklands, with most business in London being conducted on an international basis, with established leads in areas such as Eurobonds, foreign exchange markets, energy futures and global insurance. It is also home to the London International Financial Futures and Options Exchange and the Lloyd's of London insurance market.

3.2. Education in the United Kingdom.

Education in the United Kingdom is a devolved matter with each of the countries of the United Kingdom having separate systems under separate governments: the UK Government is responsible for England, and the Scottish Government, the Welsh Assembly Government and the Northern Ireland Executive are responsible for Scotland, Wales and Northern Ireland, respectively. While the systems in England, Wales and Northern Ireland are more similar, the Scottish system is quite different.

3.3. Healthcare in the United Kingdom.

Healthcare in the United Kingdom is a devolved matter, meaning England, Northern Ireland, Scotland and Wales each has its own system of private and publicly-funded healthcare, together with alternative, holistic and complementary treatments. Each country having different policies and priorities has resulted in a variety of differences existing between the systems. That said, each country provides public healthcare to all UK permanent residents that is free at the point of need, being paid for from general taxation. In addition, each also has a private healthcare sector which is considerably smaller than its public equivalent, with provision of private healthcare acquired by means of private health insurance, funded as part of an employer funded healthcare scheme or paid directly by the customer, though provision can be restricted for those with conditions.

4. UNITED KINGDOM BUDGET

The United Kingdom budget deals with HM Treasury budgeting the revenues gathered by Her Majesty's Revenue and Customs and expenditures of public sector departments, in compliance with government policy.

Adjustment is achieved with the GDP deflator.

The 2011 United Kingdom budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on 23 March 2011.

It was the second budget of the Conservative-Liberal Democrat coalition government formed in 2010, and the second to be delivered by Osborne.

Osborne quoted data and projections from the Office for Budget Responsibility relating to economic growth, inflation and borrowing. Key measures taken or introduced included increasing the personal tax allowance, cuts in corporation tax, a cut in fuel duty, and a new equity loan scheme designed to help first-time buyers in the property market.

USED LITERATURE

1.      Ю.Галицінський. Великобританія. СПб.: Видавництво «Каро», 1999 - 460с.

2.      http://revolution.allbest.ru

3.      http://en.wikipedia.org/wiki/Economy_of_the_United_Kingdom