Uk Economy

Britain today is a country with a highly developed, strong and independent economy. Economic recovery after World War II took almost forty years. In addition to domestic resources, the process of recovery boosted the UK entry into the European Community in 1973, which contributed to raising the competitiveness of the country. Now the UK is at the forefront of developed countries in terms of growth, productivity and competitiveness. The share of manufacturing and engineering in the years after World War II has fallen from one third to one-fifth, at the time, as services expanded significantly and began to bring much of the country's income. The U.S. and Japan – are the most important trade partner for the UK and Japanese companies often choose the name of Great Britain as their base in Europe. Other developing East Asian countries with export-oriented economies are actively participating in the open market of Great Britain. Thus, the United Kingdom is actively cooperating not only with countries - members of the Commonwealth, but also from Europe, Asia and North America.

Levels of unemployment and inflation were gradually reduced, but remained relatively high. The country played the role of global financial leader, which, along with the discovery 1980 years have witnessed large-scale privatization of state enterprises which were nationalized in previous years. Also rose an average level of life, but still dividing at a more prosperous in the south-eastern part of the country, including London, and the less affluent area west and north, natural gas and oil in the North Sea has reduced the economy's dependence on more traditional sources of energy and significantly improve the domestic economy and government economic policy.

The main points of government's economic policies have become regulation and frequent changes in interest rates, a gradual reduction in direct taxation, reducing the role and influence of professional associations,