Text On British Economy

The economy of Great Britain is based primarily on private enterprise. The private sector accounts for 82 per cent of output and 79 per cent of employment. Since 1979 the government has reduced the state-owned sec­tor of industiy by about two-thirds under its privatisation programme. It believes that economic decisions are best taken by those competing in the marketplace and that its primary roles are to help keep inflation low, main­tain sound public finances and create the right climate for markets to work better. Government programmes provide direct assistance or advice main­ly to small and medium-sized businesses. Government economic policies are aimed at raising productivity', increasing employment opportunity for all, providing educational opportunity for all, abolishing poverty, deliver­ing public services, and achieving rising prosperity.

In 2002 growth in the UK economy continued. Gross Domestic Product (GDP) rose considerably.

Recent decades have generally seen ' the largest growth in the service sector (finance, tourism, shipping and aviation) which now accounts for around two-thirds of GDP, compared with about one-half in 1950. Pro­duction of manufactured goods contributes less than one quarter of GDP, compared with over a third in 1950.

Employment has grown over this period at a high pace. At the mo­ment the economy is seeing the longest period of low inflation since the 1960s.

In 2002 the Government investment rose by 15.4 per cent.

Notes on the Text

¹... policies are aimed at raising productivity... —... политика нацелена на повы­шение производительности... После глагола lo aim с предлогом at употребляется герундий.

К4

Unit 2

11. The Nation's Economy

primarily ailv— главным образом

private enterprise - частное предпри­нимательство

private sector - частный сектор

account (for) v - составлять

reduce v — сокращать

state-owned sector - тссектор

under its privatisation programme — в со­ответствии со сиоей программой приватизации

primary adj— имеющий первостепен­ное значение

maintain v - эА поддерживать

sound public finances - «здоровые» го­сударственные финансы

right adj— верный, надлежащий, под­ходящий

direct assistance - непосредственная помощь

small and medium-steed businesses - ма­лый И средний бизнес

economic policy — экономическая по­литика

aim (at) v - нацеливать, направлять

abolish v - уничтожать, отменять

poverty n — бедность

deliver v — поставлять, обеспечивать, снабжать

rising prosperity — растущее благосос­тояние

growth ii — рост

decade n - десятилетие

service sector — сектор усчуг

shipping n — перевозка грузоь

compared with - no сравнению с...

production of manufactured goods — про­изводство готовой продукции

at a high pace — бысгрыми темпами

investment n — инвестиции

— экономика базируется глав­ным образом на...;

- на частный сектор приходит­
ся... % выпуска продукции;

- сократить долю государствен­
ного сектора в промышленно­
сти в соответствии с програм­
мой приватизации;

- принимать экономические
решения;

- конкурировать на рынке;
-сдерживать инфляцию на

низком уровне;

- поддерживать государствен­
ные финансы в «здоровом»
состоянии;

believe, suppose, presume, pre­dict - полагать, предполагать appear, turnout, prove-оказы­ваться

estimate, calculate, count - под­считывать

—создавать необходимый кли­
мат;

—оказывать содействие;

- политика направлена на...;

- поднимать производитель­
ность;

- уничтожить бедность;

- предоставлять услуги;

- достигнуть благосостояния;

- валовой внутренний продукт
вырос;

- рост и секторе услуг;

- по сравнению с;

- высокими темпами;

- инвестиции выросли на... %.

report, claim, announce - сооб­щать, объявлять consider - считать, рассматри­вать

expect - ожидать seem - казаться

Unit 2

П. The Nation's Economy

assume, admit - принимать, допускать

recognise — признавать, узна­вать

deny - отрицать say (said, said) - говорить

Ex. 28. a) Read Ihe text and translate it into Russian, b) Explain how the economy ma­chine works.

The Nation's Economy

The economy of the country is like a machine which provides us with things we need, i.e. goods and services. The economy creates the wealth of the country. The better it works (he better off are the people.

The government through its economic policy plays an important role in the control of the economy machine. The major branches ofeconornic policy are fiscal and monetary policies. Fiscal policy is concerned with taxes and government spending activities. Monetary policy is concerned with control­ling the supply of money and credit.

A nation's economy can be divided into three sectors of activity The pri­mary sector deals with extraction of minerals, agriculture, fishing, and forest­ry. Processing of the primary sector materials and production of manufac­tured goods is the field of the manufacturing sector. The service sector provides services of various kinds such as transportation, distribution, catering as well as financial services and tourism. The role of the manufacturing sector in the advanced industrialised countries is decreasing while the service sector is be­coming more important.