Today is the second of four 'five minute lessons' that we started to deliver last week.
If you remember last week you started researching the cost of running UK PLC between:
- 2007-2008 - poster in B4 also available in the picture gallery of this blog
- 2008-2009 was provided by courtesy of the the wonderful Tom and
- 2012 was found by the quick and sharp research skills of Melissa & Haseefa
You were to decide if the cost of running the country was increasing or decreasing and by how much before starting to write your INTRODUCTION based around the 'four pillars of society' health, defense, education and welfare.
Today we are going to explain the role of the government with regard to the four key areas that every government must focus on not just ours in the UK. They are:
- Inflation - what is it and how is it controlled?
- Job creation with rising unemployment and youth unemployment what can the governement do next? Remember the 1 million 17-24 year old NEETS.
- Growth or GDP what is it and how is it measured?
- Balance of paymetns explain what this means and say why countries such as Italy, Greece, Spain and Ireland are having such a bad time at the moment as they have not got this balalnce correct. Core text pg 18-27 will support this work.
It is thought that these counties alone now owe a combined debt of 13 trillion Euros, what do you think of that. They predict that Greece will need to stop paying all its public sector workers for 13 years to attempt to repay they debt or at least have any chance of making a dint in the size of it.
I have attached a link below of a news story that was on BBC Radio 4 this morning at 8am which talks about recent research published today regarding the second point above. CAn any of you find the CIPD article on line that it refers to.
Have a good lesson and I look forward to seeing your work for P4. See assignment by clicking here