Facebook Pixel Code
x
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

During the 1980s and early 1990s recessions, British manufacturing management restored profitability, sacked employees, and transformed productivity. To what extent does the British experience differ when compared against the major competitors

This is a preview of the 6-page document
Read full text

This approach allowed the inflation rate to drop down to10% in 1982 and gradually only 4% in 1983 (Martin & Parker, 1995, pControlling inflation was a big achievement indeed but unemployment rate increased dramatically to its highest levels. Aound 3,000,000 people were unemployed in United Kingdom which started severe riots in the country. Gvernment was accused for this whole dilemma. Tatcher closed all the inefficient factories and industries too as they didn’t have enough productivity and were a burden on the economy. Te job cuts raised many issues throughout country as people were hand to mouths.

3million unemployed people were a big figure thus ultimately government started to take care of this segment and as a result unemployment figure reached 1. 6million in 1989. Te unemployment again increased from 1990-1993 but it was gradually under control afterwards. Te introduction of Enterprise zone was the fundamental reason of reducing unemployment rate (Hall, 2001, pThe British government religiously followed monetarist economic model, fcused on its all theories and implemented in its true spirits. Te Monetarist policies brought revolutionary change in Kingdom by the time and the results obtained were promising.

Tatcher was a cult follower of monetarist policies. Dficit spending and lowering interest rate brought recovery in the economic position of Britain. Tx exemptions were given to start new business ventures in the country. Te opposition opposed policies of Mrs. Tatcher but economists and research analysts believe that this was the best policy taken at that time as there was no other way out (Taylor & Bradley, 2008, p(Meen, 1996, p 431) illustrates that encouragement to enterprise zone was good and important step taken by the government.

Tis showed that government believed in private investment and also make friendly rules and regulations to start new business ventures. Rlaxations were also given to the current business ventures so that economic rise would be seen in the country. Te transfer of power in early 1990’s increased unemployment rate once again but in 1993 it came under the control of British government again. Te steps taken by the government are significant & appreciable. Te economic scenario prevalent in Britain was comparatively from the world.

Te focus of Britain government was also unlike other nations. Tey deployed...

This is a preview of the 6-page document
Open full text
Close ✕
Tracy Smith Editor&Proofreader
Expert in: Business, Management, Finance & Accounting
Hire an Editor
Matt Hamilton Writer
Expert in: Business, Macro & Microeconomics, Marketing
Hire a Writer
preview essay on During the 1980s and early 1990s recessions, British manufacturing management restored profitability, sacked employees, and transformed productivity. To what extent does the British experience differ when compared against the major competitors
  • Pages: 6 (1500 words)
  • Document Type: Essay
  • Subject: Business
  • Level: Undergraduate
WE CAN HELP TO FIND AN ESSAYDidn't find an essay?

Please type your essay title, choose your document type, enter your email and we send you essay samples

Contact Us