Supply-side

• What measures can be used to improve productivity and efficiency?

  Competition policy, improving labour, and improving infrastructure
• How can industries exploit opportunities in export markets?

  By focusing resources on industries where the UK has a real comparative advantage
• What is a potential consequence of closing certain industries in the UK?

  It will cause job losses in the short term
• What are the characteristics of the proposed long-term solutions to balance of payment issues?

  • They are longer-term solutions
  • They aim to solve balance of payment issues
  • They are more sustainable than temporary solutions like aggregate demand