Hi, need to submit a 1500 words paper on the topic A description of the UK economy.
The UK economy is currently doing well and might be begrudged by many emerging economies. It has high employment levels, minimal inflation rates and a good annual growth of 0.2%. however, if the government continues increasing its expenditure, the UK might soon find itself in another self-imposed crisis. The UK government should realize that the real risk from increased government expenditure is the burden of interest that has to be paid on the money borrowed to finance government activities. Though the government has the role of stimulating economic growth, it must use methods and/or policies that will not conflict with some of its goals and/or objectives.
Apparently, tax reduction might work in further improving the performance of the UK economy but such reductions must not be at the expense of government revenues. Vast as it is, the UK government requires lumpsome amounts of money to provide for its population and finance its numerous activities hence taxes must still be considered as an important source of the government’s existence.