Problems of economic development of Britain since 1970’s to the nowadays

Abstract

The current situation in the economy and the problems of Britain economic development in 1970s is described in the article. The internal and external factors, their interaction and impact on the economic situation of the country in the period that lead up to the so-called "ten year" crisis were investigated. In article was analyzed a number of economic indicators reflecting, in particular on the crisis state of the British economy, showing their impact on the economic development of England and the way out of such situation. The British could not accept the loss of the title of world's largest colonial empire and the enormous loss of possessions, which for more than a century meant that they had a higher standard of living than in other countries. The UK economy becomes increasingly taking corporate traits, when any economic solution acceptable on the basis of agreements between government, trade unions and employers in their own interests, which impede progress. Now all the British need to learn about the new conditions of the new world and only rely upon their own strength, in fact, it is the main their problem.