The Impact of the United Kingdom Technology on the Current UK Economy Free Essay Example, 3000 words

The depression precipitated from the hidden significant imbalances. The country s overreliance on debt cash inflows and the financial sector significantly triggered the imbalances. The current leadership of the nation, United Kingdom, must resolve the high wall of imbalances to unfold a sustainable and balanced economic recovery program. In response, the government is currently putting into action a wide range of economic enhance programs that comply with environmental laws. The programs include fiscal consolidation and structural rehabilitation aimed at generating higher economic growth and enhanced balancing of the economy over time. Statistics show that the unemployment rate rose from 6.2 percent in 2008 to 7.8 percent in 2010. Likewise, the United Kingdom financial balance drastically declined from 2008 s 1 percent to 2010s -6 percent. As of 2011, the United Kingdom government s fiscal plans and economic reform programs significantly contributed to the marked reduction of fiscal risks, the government must inject further necessary improvements to the 2011 fiscal framework and reforms to make the financial sector more robust. Rick Szostak (Szostak 1995;101) reiterated This view, that technological change is the primary cause of rising incomes in the modern world, is widely held. We will write a custom essay sample on The Impact of the United Kingdom Technology on the Current UK Economy or any topic specifically for you Only $17.96 $11.86/page