What’s the Government up to?. Government Objectives Overall – to maximise economic performance 1 High economic growth (Growth in UK is now predicted to.

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What’s the Government up to?

Government Objectives Overall – to maximise economic performance 1 High economic growth (Growth in UK is now predicted to be 2.4% in 2014, after five years of stagnation and very low growth; text book talks about Government aim of 2.5% – 3%) What do you think the impact is of low economic growth?

2. Low Unemployment Not zero but low The UK unemployment rate is falling, having reached a 15-year high in June 2011 The Office for National Statistics (ONS) announced that in September 2013 the unemployment rate was 7.7% (almost 2.5 million) What do you think the impact is of high unemployment?

3. Inflation Should be low, ideally between 2% - 2.5% (so that there is some growth in the economy) Currently 2.7 % in the UK (September 2013)

4. Balance of Payments Over time, should be balanced Large sustained deficits aren’t healthy The UK has been in deficit for the past 21 years But... If businesses and financiers believe that the UK economy is fundamentally healthy, there may be less concern than there would have been in the past

Other economic issues Income distribution (and taxation policies) Environmental Issues (and their economic impact) Rebuilding the country’s infrastructure

Activities Read the section on ‘Objectives of government economic policy’ (p ) Make notes, including copies of all the given definitions Read the three newspaper articles on the UK economy. Highlight or underline the three most important sentences in each article. Be prepared to defend your choice!

Debate The UK’s economy remains very fragile. You will be divided into two groups; one group will be arguing in support of the statement, and one against. Remember to keep the government’s objectives firmly in mind when assembling evidence to support your arguments.

Homework The UK’s economy remains very fragile. Based on the articles you’ve read, and your own knowledge, do you agree with this statement? Write an essay, of up to 500 words, for next Wednesday. Make sure that you make good use of evidence in reaching your conclusion – and remember that the best essays will look at both sides of the argument.