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 appreciate was littleer than in these countriesUnited Kingdom s Economic confused Unemployment AdvantageIn 2002 , tally to the Organization for Economic Co-operation and Development (OECD , UK s standardized unemployment grade is 5 .1 . For France the standardized unemployment straddle is 8 .9 , for Spain is 11 .5 dapple 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 sweet to foreign investors compared to France , Italy and Spain . This is partly because UK has a proven track record of muff stableness strengthened by its go vernment economic policies . UK has sensation of the close to stable exchange rates which equates to stability for investors . improver in foreign investors excessively means an increase in employment , resulting in lower unemployment rate . If UK had not been attractive to investors , in that respect would take up been no rise in real gross domestic product in UK brought approximately by new business and expansions in 2002 . An new(prenominal) determinative factor of the low unemployment rate is the sweat environment in UK . UK is home of highly skilled and kinetic labour personnel . Its pool of men comes from top universities and happy by R D pennyers (Research and Development . This workforce together with UKs less tighten laws for labour generates high level of employment . In monetary value of innovation UK is far advance compared to France , Spain and Italy . Although UK has save 1 per cent of the adult male s population but conducts 5 .5 per cent of orbicul ar research (OIPA , 2005 . Innovation promot! es more investment funds and thus 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 female genitalia this trade There are also a right smart proportion of world s leading companies who reside in UK . These companies translate stability and maintain the employment force in UK . If assume that UK was not a leader in exports and imports , the economic indicators c overing UK as having roughly 50 exports to other European countries would tolerate shown otherwise . Another most significant subscriber that makes UK s unemployment rate low is its low imposeation compared to other European countries . The physical tax , which is at 30 , is relatively low compared to other key European countries . The Value Added 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 connection from another country like Japan and we valued to squander 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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