The document discusses the socio-economic dimension of Britain. It covers British social classes and norms, key economic sectors like services, manufacturing and tourism, and the impacts of Brexit and COVID-19 on the economy. The biggest industry is services and the largest export is goods and financial services. Income tax is the main revenue source.
The document discusses the socio-economic dimension of Britain. It covers British social classes and norms, key economic sectors like services, manufacturing and tourism, and the impacts of Brexit and COVID-19 on the economy. The biggest industry is services and the largest export is goods and financial services. Income tax is the main revenue source.
The document discusses the socio-economic dimension of Britain. It covers British social classes and norms, key economic sectors like services, manufacturing and tourism, and the impacts of Brexit and COVID-19 on the economy. The biggest industry is services and the largest export is goods and financial services. Income tax is the main revenue source.
The document discusses the socio-economic dimension of Britain. It covers British social classes and norms, key economic sectors like services, manufacturing and tourism, and the impacts of Brexit and COVID-19 on the economy. The biggest industry is services and the largest export is goods and financial services. Income tax is the main revenue source.
Download as DOCX, PDF, TXT or read online from Scribd
Download as docx, pdf, or txt
You are on page 1/ 12
Page|1
UNIVERSITY INSTITUTE OF LAWS, PURC
LUDHIANA (SESSION-2024-25)
A PROJECT REPORT ON THE TOPIC:
SOCIO-ECONOMIC DIMENSION OF BRITAIN
SUBMITTED TO: SUBMITTED BY:
DR. RAJNISH SARYAL KASHIKA NIJHAWAN (56) Page|2
ACKNOWLEDGEMENT
No one who achieves success does so without
“
acknowledging the help of others. The wise and confident
acknowledge this help with gratitude.”
We are in all humbleness and gratefulness to acknowledge our
depth to all those who helped us to put these ideas, well above the level of simplicity and into something concrete. Foremost, we want to offer this endeavor to GOD for the wisdom he bestowed upon us, the strength, the peace of mind and good health in order to finish the assignment work. We would like to express our thanks of gratitude to our subject teacher Dr. Rajnish Saryal to teach every topic of Socio-Economic Dimension Of Britain in depth which helps to cover this topic. Page|3
INTRODUCTION The United Kingdom, made up of England, Wales, Scotland, and part of Ireland, has a population of around 62.8 million. English is the official language, and London, the capital, is famous for its finance, culture, and more. The UK's main export is the English language, widely spoken worldwide. Its culture includes literature, film, music, and TV.The UK is the world's fifth-largest economy, offering a high quality of life thanks to a strong work culture. Despite its diverse population, it maintains work integrity. Unemployment stands at 4.2%, relatively low compared to other developed countries. Economic growth is concentrated in London and the southeast, while the north and other regions face higher unemployment. Though living costs are high, the UK is considered safe, and its people are often called Brits. Page|4
SOCIAL DIMESION IN BRITAIN
The United Kingdom has a social structure based on social classes, which are groups of people with similar levels of wealth, education, and jobs. There are now seven social classes, ranging from the wealthiest elite to the least well-off precariat. The Elite: These are the wealthiest people who earn a lot of money and often went to prestigious schools and universities. Established Middle Class: The second wealthiest group, including professions like engineers and social workers. Technical Middle Class: A smaller group with high income but less involvement in cultural activities, mostly young people working in science and technology. New Affluent Workers: A younger group with moderate income, working in jobs like electricians and retail workers. Traditional Working Class: Older people Page|5
with lower income, but often own homes
and have social connections, working in jobs like care workers and cleaners. Emergent Service Workers: A newly recognized group with moderate income, strong social connections, and cultural interests, including jobs like bartenders and musicians. Precariat: The least well-off group with low income and few social connections, working in jobs like carpenters and shopkeepers.
Beliefs The UK is a diverse society with people of many different faiths. Christianity is the main religion, but there are also significant Muslim, Hindu, Sikh, Jewish, and Buddhist communities. Public places often have prayer rooms for people of all religions to use. Page|6
Norms British people value punctuality and politeness. Being late is considered rude, and queuing is important - people wait their turn patiently. Politeness is emphasized, with "thank you" and "please" commonly used, and people apologize often. Greeting people with a handshake and saying "Pleased to meet you" is common, while hugs and kisses are reserved for family and close friends. Tea is a big part of British culture, with tea breaks being common at work and socializing over tea being a tradition dating back centuries.
ECONOMIC DIMENSION IN BRITAIN
The United Kingdom has a big economy, ranking sixth globally, with a GDP of $3.07 trillion in 2022 and over 67 million people. The UK is made up of four parts: England, Scotland, Wales, and Northern Ireland. People in the UK generally have a good quality of life, and the economy is diverse, Page|7
with key sectors including services,
manufacturing, construction, and tourism.
Key Points: Services like finance, retail, and entertainment are the biggest part of the UK's economy, making up 80% of its activity. Manufacturing and construction contribute around 16% altogether. The European Union is the UK's biggest trading partner, but it also trades a lot with the United States.
Sectors That Contribute to the Economy:
Services, like finance, retail, and entertainment, are the biggest part of the UK's economy. Manufacturing and construction are also significant contributors. Page|8
Agriculture plays a smaller role.
Tourism: Tourism is important for the UK's economy, with visitors spending billions of pounds each year. Exports: The UK exports goods like mechanical power generators, crude oil, and cars, as well as services like financial and travel services. Effect of Brexit: Brexit has had a complicated impact on the UK's economy, with different experts giving different predictions. It's still early to fully understand the long- term effects, especially with other factors like the pandemic and economic issues also affecting the situation. COVID-19 and the UK Economy: The UK took strong actions in response to the COVID-19 pandemic. Initially, the government planned to protect vulnerable people while Page|9
letting others build immunity. But they
changed plans after seeing projections from the Imperial College of London. They imposed strict lockdowns from March to July 2020 and then more until mid-2021.The UK's GDP (economic output) dropped by a record 20.4% in the second quarter of 2020 and by 22.1% in the first half of the year. This decline was mainly in sectors like services, production, and construction, which faced strict restrictions. The UK's economy fell more than other countries because of the long lockdowns, not just the restrictions themselves. British Royal Family: The Windsors' wealth mainly comes from their property holdings, managed by The Crown Estate. Biggest Industry in the UK: The services sector is the largest part of the UK's economy, including hospitality, retail, business, and financial services. Retail and P a g e | 10
wholesale are the biggest employers.
Biggest Export: The UK exports goods like mechanical power generators, crude oil, and cars, and services like financial, travel, and telecoms services. Revenue Sources: Income tax is the UK's biggest source of revenue, followed by National Insurance Contributions and Value Added Tax (VAT). P a g e | 11
Conclusion The UK is the sixth largest economy globally and plays a big role in the world economy. Tourism, manufacturing, retail, and financial services are major contributors to its economy. P a g e | 12
