This paper is based on the report of the OECD (2015) and will highlight the economic sectors, which have to be improved to increase an economic efficiency of the UK. I will introduce several policies and reforms, which according to the OECD, have to be incorporated to improve an economic growth. First of all, I’m going to stress the infrastructure of the UK. In this paragraph, I will concentrate on the main issues, which are associated with the roads, railways, airports, ports, the environment and possible solutions for the government. Furthermore, I will mention that the level of demand for the houses in the UK is higher than supply and the number of households has to be increased. In addition, I will emphasise the finance and policies, which have to be introduced to ensure the stability in this sector. Moreover, I’m going to stress the policies such as control of the incomers associated with migration. Furthermore I will stress that the improvement into educational system have to be incorporated in order to increase labour productivity in the future.
Table of Contents
- Executive summary
- Introduction
- Infrastructure
- Road and railway
- Airports and ports
- Greening the infrastructure
- Households
- Finance
- Employment and migration
- Conclusion
Objectives and Key Themes
This paper examines the economic sectors in the UK that require improvement to enhance economic efficiency, based on a report by the OECD (2015). It explores various policies and reforms recommended by the OECD to boost economic growth.
- Improving the infrastructure in the UK
- Addressing the housing shortage and increasing the supply of homes
- Strengthening the financial sector through policy interventions
- Managing migration and its impact on employment
- Enhancing the education system to improve future labor productivity
Chapter Summaries
The executive summary provides an overview of the paper, highlighting the key sectors and policies discussed. The introduction introduces the OECD, its role, and the UK's economic context. It also discusses the impact of the financial crisis on the UK economy and the government's austerity measures.
The infrastructure chapter explores the current state of infrastructure in the UK, comparing it to other OECD countries. It examines challenges such as congestion and the need for investment in roads, railways, airports, and ports. The chapter also highlights the UK's efforts to improve the environmental sustainability of its infrastructure.
Keywords
Key terms and concepts discussed in the text include economic efficiency, infrastructure development, housing shortage, financial stability, migration, labor productivity, and the role of the OECD in providing policy recommendations for economic growth.
- Quote paper
- MBA graduate Kat Szydlowska (Author), 2016, The Economy of London, Munich, GRIN Verlag, https://www.grin.com/document/421558
