Economics Essay

UK EconomyYour name HereIn 2002 , the un physical exercise roams in Spain , France and Italy were importantly high than in the UK . Examine the factors which might explain wherefore the UKs un involvement compute was littleer than in these countriesUnited Kingdom s Economic embarrassed Unemployment AdvantageIn 2002 , tally to the Organization for Economic Co-operation and Development (OECD , UK s standardized unemployment regularise is 5 .1 . For France the standardized unemployment compute is 8 .9 , for Spain is 11 .5 spell for Italy is 9 .0 . Let us examine first why UK had this paltry unemployment rate compared to the France , Spain and Italy . First UK is very cute to immaterial investors compared to France , Italy and Spain . This is partly because UK has a proven track record of botch up stableness strengthened by its government economic policies . UK has angiotensin converting enzyme of the close to stable exchange rates which equates to stability for investors . add in foreign investors alike means an increase in employment , resulting in lower unemployment rate . If UK had not been attractive to investors , in that respect would adopt been no rise in real gross domestic product in UK brought some by new business and expansions in 2002 . An another(prenominal) antigenic determinant factor of the low unemployment rate is the sweat environment in UK . UK is home of highly skilled and kinetic labour personnel department . Its pool of men comes from top universities and happy by R D pennyers (Research and Development . This workforce together with UKs less constricting laws for labour generates high level of employment . In name of innovation UK is far advance compared to France , Spain and Italy . Although UK has save 1 per cent of the cosmea s population but conducts 5 . 5 per cent of world(prenominal) research (O! IPA , 2005 . Innovation promotes more investment funds and frankincense lowers unemployment . Another factor that makes UK s unemployment rate low is its organism a leader in world trade . UK is instant in the world in terms of exports and third in the world in terms of imports . The magnitude of trade is an quality that there is a corresponding high level of workforce john this trade There are also a spacious proportion of world s leading companies who reside in UK . These companies succeed stability and maintain the employment force in UK . If presume that UK was not a leader in exports and imports , the economic indicators showing UK as having roughly 50 exports to other European countries would take in shown otherwise . Another most significant subscriber that makes UK s unemployment rate low is its low appraiseation compared to other European countries . The material tax , which is at 30 , is relatively low compared to other key European countries . The Value Add ed Tax (VAT ) in UK is also lower than most European countries . Lower corporate tax and lower VAT induces more investment and thus decreases unemployment rate . Let say for example we are a partnership from another country like Japan and we valued to hand over some presence in Europe . logically , if we have France , Spain , Italy...If you want to get a full essay, effect it on our website: OrderCustomPaper.com

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