Impact Of The United Kingdom On Britain s Current Issues...

With the United Kingdom being the 3rd European country with the highest GDP it is rather difficult to assume that issues such as negative economic growth, rising unemployment (Mooney and Scott, 2012) and consequently poverty would have any magnitude in its territory. However poverty does appear to be an issue in Scotland, even though it contributes as the 2nd largest percentage on UK’s GVA (7.7% ONS, 2012). With the acceptance of the referendum Scotland was aiming for independence and therefore taking in its own hands decision making regarding sectors such as the economic one by prioritizing and making the right decisions in order to tackle issues such as that of poverty. After September 18th 2014 economic changes concerning currency, unemployment and natural resources would have an impact on Scotland’s current issues regarding poverty. An issue that has been in Scotland’s economic agenda afore the economic crisis of 2008/09 is poverty despite the fact that Scotl and’s economy was growing steadily until 2007 (McKendrick, J., et al. 2011). By 2013 Scotland had a greater relative poverty rate than the UK with 16% , which is an increase since 2007 when the case was in reverse positions. These statistics indicate an adverse development in Scotland’s relative poverty rates over the past eight years to which economic factors come from both macroeconomic as well as microeconomic spectrums. The four main macroeconomic objectives (high economic growth, low inflation, balance ofShow MoreRelatedSocial Policy Essay6100 Words   |  25 Pagesfocused on the social welfare of the people in the United Kingdom. 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