economic change in the uk

When was the shift from primary to secondary industry in the UK?

during the 19th century

What triggered the change from primary to secondary industry?

Increase in the use of machinery replaced people in the primary sector, but gave rise to jobs in the secondary sector + urbanisation due to the introduction of factories

What type of economy is the UK currently?

post-industrial

What triggered the shift secondary to tertiary/quaternary sectors in the UK?

• de-industrialisation

• globalisation

• changes to government policy

• more access to education

How did better access to education help facilitate the shift to tertiary/quaternary sectors?

Higher education meant that people who gain the skills and qualifications needed to perform jobs in the tertiary/quatenary sector

Why has de-industrialisation increased?

• Competition with other markets (ex. China, Malaysia and Indonesia) which produce goods for cheaper, so UK products seemed too expensive

• Mechanisation has replaced peoples’ jobs in the secondary sector

What has facilitated globalisation?

• Internet, as ideas can be spread across the globe very quickly

• Trading blocs

• Improvement in communication and transport

What impacts has globalisation had on the UK economy?

• Migration

• Less manufacturing

• Inequality

• Outsourcing

• Economic growth, foreign investment

• Boosted global trade

How does migration impact the UK economy?

Migrants fill jobs with a shortage of workers

Why do companies outsource work and manufacture less in the UK?

Manufacturing has decreased as buying some products from other countries is cheaper. Work is outsourced (ex. call centres for HSBC in India) as labour is cheaper

What did the UK change in 1945-1979?

Some industries, like coal, steel and railways were nationalised to help support declining industries and protect jobs - the equipment was old and working practices were outdated, making these industries less profitable

What changed for the UK economy 1979-2010?

Privatisation of many state-run industries, causing traditional primary sector industry to decline further, leading to job losses and shifts away from the service sector

Industrial areas were converted to areas that supported businesses with offices and retail outlets

Lead to the expansion of the service sector

How has the UK economy changed from 2010 onwards?

The government has tried to rebalance the economy by rebuilding the manufacturing sector and relying a bit less on services

• ex. improvements to transport infrastructure, like London’s crossrail to improve connectivity

• investment in high-tech manufacturing, like aerospace and renewable energy

• encouraging international businesses to locate in the UK