U.K Fiscal Policy Trend (Last Five Years)
Example No.1 November 2020 - Due to the ongoing Covid-19 pandemic, the U.K has had to implement a fiscal policy for the people of England and Scotland. This is because many people in these two countries have begun to struggle financially due to the pandemic. In addition, the Scottish government does not have the means and capability to implement a similar policy for the people of Scotland. This has led the British government to implement a fiscal policy to keep the people of England and Scotland afloat and to keep the respective economies afloat. Example No.2 Financial Crisis 2008 - During the 2008 financial crisis, the U.K government had to increase their fiscal policy in order to help keep businesses afloat and the economy maintained. To do this, and since many people did not have the means to pay their normal tax rate, the government had to decrease taxes. In addition, the government had to grant a subsidy of sorts in order to help keep businesses running and to help kee...