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What is Balance of Payments - Class Notes about?
The UK currently faces a current account deficit due to factors like a high value of sterling, economic growth, and low productivity. While a deficit below 5% of GDP is deemed sustainable, it can also be beneficial if it leads to increased competitiveness through imports of raw materials and machinery. Various supply-side and demand-side policies are proposed to address the deficit, including education, tax reductions, and expenditure-switching measures.
- Author
- glissharry
- Language
- EN