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level: The Changing Economy of the UK

Questions and Answers List

level questions: The Changing Economy of the UK

QuestionAnswer
Tony Blair's Labour government came into power in 1997, marking a significant period of political transition.Political Transition (1997-2007)
Who led the UK government during the period of 1997-2007, and what political changes occurred during this time?Tony Blair's Labour government came into power in 1997, marking a significant period of political transition.
During this period, the UK experienced high economic growth, and there was an emphasis on making the country a hub for software and technology.Economic Landscape
What characterized the economic landscape in the UK during the years 1997-2007?During this period, the UK experienced high economic growth, and there was an emphasis on making the country a hub for software and technology.
Post-2007, there have been major changes in the UK's economy, prompting shifts in political priorities.Economic Shift
What major changes in the UK's economy prompted shifts in political priorities post-2007?Post-2007, there have been major changes in the UK's economy, prompting shifts in political priorities.
The Global Financial Crisis began in 2007, leading to a recession in 2008.Global Financial Crisis
When did the Global Financial Crisis start, and what impact did it have on the UK?The Global Financial Crisis began in 2007, leading to a recession in 2008.
Some banks, like RBS, had to be nationalized [transferred (a major branch of industry or commerce) from private to state ownership or control] .as a response to the financial crisis.Nationalization of Banks
How did the UK government respond to the financial crisis in terms of banking institutions?Some banks, like RBS, had to be nationalized as a response to the financial crisis.
The government had to borrow money, reduce unemployment, and support failing businesses to navigate the challenges posed by the financial crisis.Government Interventions
What measures did the UK government take to address the economic challenges during the Global Financial Crisis?The government had to borrow money, reduce unemployment, and support failing businesses to navigate the challenges posed by the financial crisis.
To encourage consumer spending, VAT (Value Added Tax) was cut as a measure to stimulate the economy.VAT Cut
What specific economic measure was implemented to boost consumer spending during the financial crisis?To encourage consumer spending, VAT (Value Added Tax) was cut as a measure to stimulate the economy.
In 2009, following the 2008 recession, the UK government faced a budget deficit, indicating it spent more money than it earned in taxes.Budget Deficit (2009)
What fiscal challenge did the UK government confront in 2009, stemming from the aftermath of the 2008 recession?In 2009, following the 2008 recession, the UK government faced a budget deficit, indicating it spent more money than it earned in taxes.
The Conservative government, led by David Cameron, aimed to address the budget deficit by implementing spending cuts on public services.Conservative Government Policies
How did the Conservative government, under David Cameron, respond to the budget deficit, and what were the main policy approaches?The Conservative government, led by David Cameron, aimed to address the budget deficit by implementing spending cuts on public services.
The austerity measures, including spending cuts, resulted in reduced funding for public services such as the NHS and the education system.Reduced Funding for Public Services
What were the consequences of the government's austerity measures for public services like the NHS and education?The austerity measures, including spending cuts, resulted in reduced funding for public services such as the NHS and the education system.
Between 2016 and 2020, the predominant focus of the UK government was on addressing and negotiating the terms of Brexit.Brexit
What was the primary political focus in the UK between 2016 and 2020?Between 2016 and 2020, the predominant focus of the UK government was on addressing and negotiating the terms of Brexit.
A brief interlude from Brexit occurred in 2020 when the government had to shift attention to dealing with the Coronavirus outbreak.Coronavirus Outbreak (2020)
What major event interrupted the continuous focus on Brexit in 2020?A brief interlude from Brexit occurred in 2020 when the government had to shift attention to dealing with the Coronavirus outbreak.
Since 2001, the UK's employment sectors have undergone significant changes, impacting primary and tertiary industries.Employment Sector Changes (Since 2001)
What notable changes have occurred in the UK's employment sectors since 2001?Since 2001, the UK's employment sectors have undergone significant changes, impacting primary and tertiary industries.
Approximately 71% of the UK is farmland, yet farming only contributes 0.6% to the country's GDP.Farmland and GDP Contribution
What is the relationship between the percentage of UK farmland and its contribution to the GDP?Approximately 71% of the UK is farmland, yet farming only contributes 0.6% to the country's GDP.
Despite the extensive farmland, only about 1% of the UK population is employed in farming.Farming Workforce Percentage
What percentage of the UK population is employed in farming despite the large amount of farmland?Despite the extensive farmland, only about 1% of the UK population is employed in farming.
Quaternary industries, including software, legal, and R&D, have seen an increase in job opportunities.Quaternary Industries
What types of industries fall under the quaternary sector, and how have job opportunities changed in these sectors?Quaternary industries, including software, legal, and R&D, have seen an increase in job opportunities.
Technical and professional jobs in computing, banking, consulting, and law are particularly popular within quaternary industries.Technical and Professional Jobs
What are some examples of technical and professional jobs that are popular in quaternary industries?Technical and professional jobs in computing, banking, consulting, and law are particularly popular within quaternary industries.
Secondary industries encompass manufacturing and processing sectors, where the number of available jobs has decreased over time.Secondary Industries
What do secondary industries include, and what trend has been observed regarding job availability in these sectors?Secondary industries encompass manufacturing and processing sectors, where the number of available jobs has decreased over time.
De-industrialization refers to the decline in the number of jobs and activities within secondary industries.De-industrialization
What term describes the trend of declining jobs and activities within secondary industries?De-industrialization refers to the decline in the number of jobs and activities within secondary industries.
De-industrialization has occurred due to factors such as globalisation, outsourcing, high labor costs, and uncompetitive British technologies.Causes of De-industrialization
What are some of the contributing factors to the phenomenon of de-industrialization?De-industrialization has occurred due to factors such as globalisation, outsourcing, high labor costs, and uncompetitive British technologies.
Since 2001, working hours in the UK have experienced notable changes, particularly a decrease in overall working hours.Changes in Working Hours (Since 2001)
What significant trend has been observed in the working hours of the UK since 2001?Since 2001, working hours in the UK have experienced notable changes, particularly a decrease in overall working hours.
The average working hours per week were 38.1 hours in 1992, 37.2 hours in 2008, and 36.9 hours in 2019.Average Working Hours (1992, 2008, 2019)
How have the average working hours per week changed in the UK between 1992 and 2019?The average working hours per week were 38.1 hours in 1992, 37.2 hours in 2008, and 36.9 hours in 2019.
While overall working hours decreased, the average number of hours worked per week decreased slightly less for women than for men.Gender Disparity in Working Hours
How did changes in working hours differ between men and women during this period?While overall working hours decreased, the average number of hours worked per week decreased slightly less for women than for men.
There has been a rise in part-time jobs and zero-hours contracts, reflecting a shift in employment trends.Increase in Part-time Jobs and Zero-Hours Contracts
What notable changes have occurred in the types of employment contracts, particularly in terms of hours, in recent times?There has been a rise in part-time jobs and zero-hours contracts, reflecting a shift in employment trends.
Zero-hours contracts, where employment hours are not fixed, have gained popularity, notably at companies like Sports Direct.Popularity of Zero-Hours Contracts
Which companies are known for using a significant number of zero-hours contracts, contributing to this employment trend?Sports Direct is known for utilizing a significant number of zero-hours contracts.
The gig economy, characterized by temporary and flexible jobs, has become more prevalent, with examples like Uber and Deliveroo paying workers per taxi ride or delivery.Gig Economy
What is the gig economy, and which companies are notable examples of this employment model?The gig economy, characterized by temporary and flexible jobs, has become more prevalent, with examples like Uber and Deliveroo paying workers per taxi ride or delivery.
Since 2003, there has been a notable increase in families where both parents work full-time jobs.Increase in Dual Full-Time Working Parents
What significant change has been observed in family dynamics regarding parental employment since 2003?Since 2003, there has been a notable increase in families where both parents work full-time jobs.
Changes in the tax system have played a role in encouraging more families to have both parents working full-time.Impact of Tax System Changes
How have changes in the tax system influenced the trend of dual full-time working parents?Changes in the tax system have played a role in encouraging more families to have both parents working full-time.