An Extensive Programme of Privatization in the 1980s The UK economy went through a particularly bad period in the 1970s with very high rates of inflation and devaluation of the currency which forced Labor government to borrow money from the International Monetary Fund.British industry, notably the car industry,appeared to be doing badly.Therefore in the 1980s,when the Conservative Party under Margaret Thatcher was in power,an extensive programme of privatization was carried out.Many state-owned businesses including steel,telecom,gas and aerospace were turned into private companies.As a result,inflation came under control, but the unemployment went up rapidly
An Extensive Programme of Privatization in the 1980s The UK economy went through a particularly bad period in the 1970s with very high rates of inflation and devaluation of the currency which forced Labor government to borrow money from the International Monetary Fund. British industry, notably the car industry, appeared to be doing badly. Therefore in the 1980s, when the Conservative Party under Margaret Thatcher was in power, an extensive programme of privatization was carried out. Many state-owned businesses including steel, telecom, gas and aerospace were turned into private companies. As a result, inflation came under control, but the unemployment went up rapidly
III.The Main Sectors of the UK Economy Primary industries: agriculture; fishing; mining; -energy production Secondary industries: manufacturing industry; electronics industry Tertiary industries: -services:banking,insurance,tourism selling of goods
III. The Main Sectors of the UK Economy • Primary industries: - agriculture; - fishing; - mining; -energy production • Secondary industries: - manufacturing industry; - electronics industry • Tertiary industries: - services: banking, insurance, tourism - selling of goods