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The Changing UK Economy (The UK is moving towards a post-industrial…

- - - - Machines and technology have replaced many people in modern industries such as car manufacturing/production
      - In many developing countries such as China and Malaysia, labour is cheaper than in the UK, so many companies choose to manufacture abroad.
      - Lack of investment, high labour costs and outdated technology have made manufacturing in the UK more expensive
  - - - The government supported nationalisation and propped up many declining industries - but this was unprofitable
    - - Privatisation began to take over, and so many of the struggling industries closed down
        
        The new private companies brought change, and created a growing quaternary sector
    - - The government has began to support a balances economy, relying less on the quaternary sector and investing more money into the growth of industries
        
        Improvements to infrastructure such as transport: HS2 and Crossrail
        
        Easier access to loans and finance for smaller businesses
        
        Encouraging global companies to base themselves in the UK
- - - - Financial services contributes 10% of annual GDP
- - - - 80% car ownership leads to increased traffic abd congestion
      - Young people cannot afford the high cost of house and so move away
      - Growth of villages reduces the sense of a community
    - - A reduction in agricultural employment as farmers sell land for housing
      - Lack of affordable housing
      - Increased pressures on services
  - - - The expected fall in the number of children has resulted in many school closures
      - An increasingly ageing population has fewer young people to support them
    - - Services are closing
      - Most farms (crofts) can only provide work for two days a week
      - Although there has been an increases in tourism, the current infrastructure cannot the support the scale of tourism needed to provide an alternative source of income
- - - - 100 new road schemes by 2020
      - 1300 new lane miles added to motorways and trunk roads
      - Extra lanes added to turn main motorways into 'smart motorways'
      - Creates employment opportunities and boost local and regional economies
    - - £2 billion road-widening project will take place on the A303
      - Converting the route to dual carriageway will create a 'super highway' to Plymouth and beyond
  - - - Improvements on the trans-Pennine rail links will reduce journey times by up to 15 minutes
      - HS2 will link London, Coventry, Sheffield, Leeds and Manchester
    - - It will bring in an additional 1.5 million people within 45 minutes commuting distance of London'#s key business districts
      - Aims to reduce journey times across London
  - - - A new container terminal will double the port's capacity to over 1.5 million containers a year
        
        Creates thousands of job in the north-west
        
        Boost the regional economy
        
        Reduce the amount of freight traffic on the roads
  - - - Create more jobs and make more money for the UK but would increase air and noise pollution
- - - - Voluntary partnerships between local authorities and businesses with the aim to identify business needs and to encourage companies to invest in order to boost the local economy and create jobs
        
        Lancashire LEP
        
        50 000 new jobs by 2023
        
        £20 million transport infrastructure investment
        
        6000 high skilled jobs in Enterprise Zones at Samlesbury and Warton
        
        Extend superfast broadband to 97% of the region
    - - Provide a business rate discount
      - Ensure the provision of super fast broadband
      - Creating simpler planning regulations