The Student Room Group

gcse geography

from 2010 onwards, the government relied less on service industries and wanted to rebuild uk manufacturing industry. Why? What is the advantage of doing this ?

thanks
So basically, the government wanted to rebuild the UK's manufacturing industry because they wanted to be less dependent on service industries which can be affected by the global economy (take the 2008 financial crisis for example). Plus, having a strong manufacturing sector means more well-paying jobs and higher productivity. It can also help balance out trade by reducing imports and increasing exports. And it can also help balance out payments the country makes and receives from other countries.
Reply 2
Original post by M.H4kim
from 2010 onwards, the government relied less on service industries and wanted to rebuild uk manufacturing industry. Why? What is the advantage of doing this ?

thanks

rebuilding the manufacturing industry helps to create more jobs n increases economic productivity asw as innovation. the service industry also relies a lot on skills ppl have (lots of working class ppl r lesser educated) but the manufacturing industry doesn't -- it also teaches ppl valuable skills for their future n increases exports + economies of scale is more likely in the manufacturing industry

Quick Reply

Latest