changes in the economy of the UK

• Commonwealth is a political group of countries formed from the British Empire with diplomatic and trade links.
• Causes of economic change include deindustrialisation, which is the decline in manufacturing and growth in tertiary and quaternary sectors.
• Deindustrialisation is caused by a global shift in manufacturing to Newly Emerging Economies (NEEs) where wages are lower, working hours are longer and unions are banned.
• Another cause of deindustrialisation is mechanisation, which is the increase in the number of machines used to carry out work.
• Globalisation is the increase in world trade, foreign investment, communication, etc., making the UK economy more dependent on other countries.
• Government policies contribute to economic change by controlling the UK economy through the treasury.
• In the 1980s, rapid growth in the UK economy included the privatisation of state-owned businesses like British Gas and the deregulation of markets.
• The 1990s saw continued growth in the UK economy, with taxes kept low so people could afford to buy things.
• The 2008 global economic crisis led to a period of recession in the UK and banks were helped out with government money, growing the national debt.
• The austerity programme since 2010 has involved spending cuts to save money, quantitative easing and the creation of enterprise zones in cities like Birmingham and Manchester.
• The UK is moving towards a post-industrial economy, with IT development, service industries, finance, research, science/business parks and impacts on the physical environment.
• Traditional UK industries caused much pollution, so modern industrial development aims to be more sustainable with the use of new ideas and technology.
• London Sustainable Industries Park is located on Thames gateway to east of the city, built on site of former brownfield site (Ford factory), space for 9 different businesses, well connected by the underground, M25 and city airport, organisations work on recycling, researching sustainability issues, using food waste to generate biogas.
• Organisations at London Sustainable Industries Park work together through a closed loop system, sharing resources and ideas, exchanging by-products.
• The proposal for a new runway is unpopular due to noise pollution and environmental damage.
• The UK is involved in trade with many other countries, importing and exporting goods like machinery and transport equipment.
• The UK government is investing £25b in upgrading the rail network, including the construction of HS2, a super fast rail connection between London and the north.
• The UK's culture is showcased through events like the London Marathon and its architecture is found in many commonwealth countries.
• The UK is involved in politics on the world stage.
• Universities like Leeds and Manchester are encouraging professionals to settle there.
• Many tourists visit the UK to experience the culture.
• A new runway for Heathrow is proposed, which is estimated to generate £147b in 60 years.
• The UK is connected to the wider world through electronic communication, with internet links providing fast global connection.
• In 2014, the government planned to spend £15b on improving roads, including building smart motorways that reduce congestion.
• Greater Manchester mayor has been given £1b to improve the city and attract new businesses.
• The UK government is investing in infrastructure to improve the north-south divide, including devolution measures that give additional powers to northern councils.
• 50% of the UK's trade is with the EU.
• The relocation of businesses, such as the BBC moving offices to Salford, has a multiplier effect that encourages others to follow suit.
• The UK has good air travel, modern port facilities, and a high speed rail link with Europe.
• The importance of ports declined due to planes and the channel tunnel, but UK ports are modern and the largest in Europe, so no current redevelopments are being planned.
• The UK government invests in infrastructure, overseen by the Department of Transport.
• Elmbridge is a semi-rural area in Surrey, ideal for commuters as it is connected to the M3 and M25, and a short drive from London.
• Elmbridge has seen social and economic changes due to the influx of people, with many young parents moving here, reducing the average resident age and increasing school demand.
• 20% of the population of Elmbridge commute to London, leaving towns empty in the daytime.
• Elmbridge has a high average income, with high disposable incomes bringing money to the area.
• Tibenham is a rural area in Norfolk with a declining population, located without motorways or major roads nearby.
• People moved away from Tibenham to find work due to a job shortage from mechanisation, causing social and economic changes.
• Young parents moved away from Tibenham, leaving only one school, resulting in a high average resident age.
• The population of Tibenham decreased by 25% since the 1900s, leading to the closure of local shops and services.
• House prices in Tibenham are low.