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... According to the figures recorded by the OECD it is possible to see that the United Kingdom has a slower grow compared to other industrial countries, however this has been an usual event since the war. ... But its important to consider that there were significant grounds for caution on extrapolate success since it was followed by a critical boom. ... They affirmed that the main objective of macro-economics policy is the maintenance of a stable economy and stability in the value of money as a top priority. On the other hand, the level of employment was mainly a matter of micro-economic policy since it was showed as varying with the wage at which labour could be hired. ...
In May 1979 six weeks after taking office, the Chancellor Geoffrey Howe introduced his first budget and the net effect of the budgetary measures was deflationary since they set a lower target for the PSBR and for monetary growth. ...
Since unemployment was rising fast in the United Kingdom up to 1984, the time of the fall in the replacement ratio, unemployment insurance policy cannot explain the rise of unemployment. ... The United Kingdom found oil in the North Sea and since 1980 has been producing more oil that it requires.
Approximate Word count = 2497
Approximate Pages = 10
(250 words per page double spaced)
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