Explain why the manufacturing sector in the British economy has declined since 1979? What steps are currently being taken by the government to arrest this decline?
Title: Explain why the manufacturing sector in the British economy has declined since 1979? What steps are currently being taken by the government to arrest this decline?
Category: /Business & Economy
Details: Words: 2179 | Pages: 8 (approximately 235 words/page)
Explain why the manufacturing sector in the British economy has declined since 1979? What steps are currently being taken by the government to arrest this decline?
Category: /Business & Economy
Details: Words: 2179 | Pages: 8 (approximately 235 words/page)
Since the industrial revolution manufacturing has been a vital component of the British economy. In the nineteenth century the UK was the worlds largest manufacturer, however, in the last hundred years Britain's share of the worlds manufacturing output has declined, a decline which has perhaps been more apparent over the last thirty years than before.
There are several theories as to why manufacturing in the UK has suffered so badly, one of which is the "…showed first 75 words of 2179 total…
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…showed last 75 words of 2179 total…and Wall ibid, p 12
Griffiths and Wall ibid, p 20
Griffiths and Wall, p 13
It is estimated that each 1% decline in manufacturing requires in excess of 2.5% increase in exported services. Peter Curwen (1997), p 449
http://www.dti.gov.uk/manufacturing/manufacturing_response.pdf
ibid, p 22 : These pillars are: Macroeconomic stability, Investment, Science and Innovation, Best Practice, Skills and Education, Modern Infrastructure, Right Market Framework.
ibid, p 8
ibid, p 17
ibid, p 12
Buxton, Chapman, and Temple (1998), p 527
ibid, p 542
