UK Economic Policies Dissertation Example | Topics and Well Written Essays - 500 words

UK Economic Policies - Dissertation Example Economic Policy Measures undertaken on or before the 1990s. †¢ Privatization ï  ¶ Mainly aimed to tackle the stagflation that gulped the nation during the 1970s and to prevent further such developments. However has been criticised by a number of economists. ï  ¶ Also enabled the revision of labour laws so as to reduce the power of the labour union and assign more power to the company. ï  ¶ Moreover, the competitive spirit that the step would instil among the producers will help the nation to achieve a comparatively advantageous position. ï  ¶ Most relevant sectors, other than the postal system, were privatized. ï  ¶ The scheme was preceded by a number of failures and required a lot of effort from the then Prime Minister, Margaret Thatcher, before it finally achieved success almost a decade later. †¢ Reduction in unemployment benefits combined with a modification of tax laws that might act as an incentive for higher production and thus an improved GDP position (Wagnur, 2000). †¢ Modification of the education system in the country and providing maximum financial coverage to the students. †¢ New pension plans so as to shift the burden from the state to the individuals. ï  ¶ Introduction of pay-as-you-go scheme in the occupational structure, where the individual has to purchase and become a part of some pension benefit scheme (Taylor-Gooby, 2006). †¢ Increased housing ownership due to introduction of buyer-side subsidies. †¢ Capital account convertibility that helped the inflow foreign investments.