Why is the British Government pursuing a policy of austerity while the Essay

Why is the British Government pursuing a policy of austerity while the economy is not growing - Essay Example The failure strategies and policies include the government opting to greatly cut down on the budgets of some of its departments to as low as thirty percent (Barrell and Liadze, 2009, p. 208). The Government had employed the austerity policies and hoped that it will greatly check on the budget deficit to minimum level of zero percent by the end of that financial year. This was also considered as a move by the government to boost its economic status and assist in paying off its public debt. Despite the above measures, the budget deficit of Britain has remained at an alarming rate and with the impact being felt most by the citizens following the increased recessions (Barrell and Liadze, 2009, p. 207) Pressure in now mounting on the government to come up with working solutions as well as cut down on the credit ratings. The austerity approach failed to meet its intended role of certifying things beyond reasonable doubt thus resulting to a huge setback in the economic development of Britai n. The Government of Britain is being accused of simply trying to experiment how efficient the austerity approach can be to its economy (Barrell, Holland, and Hurst, 2012, p. 933).This experiment has led the Britain citizens to live in depression for a long period of time.. From the look of things with regards to Britain economy, it is most likely that the austerity policies will not be easily implemented. Economists have come out strongly explaining that measures like cutting down on government expenditure may in the long run reduce the economic output largely, tax revenues to decrease, and spending on benefits to increase (Barrell and Liadze, 2009, p. 207). This however takes time and may end up resulting in an increase in the budget deficit. The government had intended to win back the favor of investors and businessmen by employing the austerity strategy. The effort to try and salvage the economic situation following the implementation of austerity policies has resulted to a big battle by the Bank of England to try slash investment spending (Delong and Summers, 2012, p. 78). This measure has however remained decimal and depressed. The government has also blamed the Eurozone for being its biggest business partners yet in has don e nothing to help it with the issue of recession. The government of Britain may try resolving this recession issue by loosening its fiscal policy (Delong and Summers, 2012, p. 78). Despite such positive advice, the government has remained adamant and has continued to propagate the pre-Keynesian economics. This approach has resulted in some positive changes in the country’s fiscal policy but most people have not yet felt the fruits of his efforts and opt for better contribution. Back in 2009, the government had forecasted that come 2013, the deficit would have gone down by 3.5 per cent of G.D.P. With time, the forecast has proven to have been too optimistic (Delong and Summers, 2012, p. 78). Despite the government coming up wit h measures to reduce economic budget deficit as well as government spending, it has not yet fully implemented these measures as it keeps on postponing them with the latest future date being put at them forward until 2016 to 2017 (Fatas, 2012, p. 78). The debt-to-G.D.P. ratio, which the government opted to go up by about seventy per cent, has surprisingly hit seventy-five per cent, and chances are that it will continue to increase up to eighty per cent in 2016. (Fatas, 2012, p. 78). The British government also blames the Eurozone crisis for the immense reduction of the amount of Britain exports goods. If the government realized that the external environment was unreliable it could have adapted to boosting the domestic market and solve

Job saisfaction Essay Example | Topics and Well Written Essays - 750 words

Job saisfaction - Essay Example This leads them to be tired and stressed out. Over a period of time, they may do the job just for the sake of doing it and not because they love to perform their work. 2. Bad bosses: If the immediate superior does not give the employee enough space to perform his or her job then it may lead to dissatisfaction in performing a job. In most cases, employees may not be given the freedom of empowerment which may affect their job satisfaction adversely. (prweb.com, 2011). 3. Reward: Most organizations fail to recognize the potential of an employee and do not equally reward them thereby leading to dissatisfaction in job. Organizations must learn to reward performance of employees. A mere pat on the back or a word of praise may help an employee to remain loyal to his work. Also the human resource team must ensure that the employees are duly appraised for their work. This will lead them to job satisfaction which in turn will affect their performance level positively. 4. Providing opportunitie s to grow: Dissatisfaction to perform a particular job may result from the fact that there are no opportunities for the employee to grow in a current organization. An employee needs to be promoted as per his or her skills and talents so that he or she can perform better. 5. Type of work: Sometimes the type of job may also be responsible for propelling dissatisfaction in job. ... Some employees may try to improve conditions by remaining in the organizations, some may protest, some may neglect the job and in extreme cases people may quit the job. (Zhou & George, 2001). A person who is dissatisfied with his job may resort to absenteeism. This is one of the most common signs which is displayed when one is not satisfied with the job. People may also show a careless attitude wherein the person does not both to take responsibility for his or her actions while performing a job. There is lack of dedication and skill in the job performed. In more severe cases, a person may cut himself or herself off from friends and colleagues and stay in alienation in the work environment. The Peter Principle is one which maintains that often persons who have been recognised and have got frequently promoted may be dissatisfied after attaining a certain level in their job. In this case, the person does not perform with the same aggressiveness and skill as he performed previously. This is due to dissatisfaction in job. (Potter, 2005). Potential interventions: There are many techniques by which job satisfaction may be restored. First of all, the human resource must see to it that the employee is given respect and rewarded for the kind of performance. This will lead him to take interest in his work. Secondly, the bosses must treat the subordinates with respect and they must use the tactics of participatory leadership. If employees are involved in the decision making process it makes them feel important and the person may be more interested in performing his or her job better. Third, the employees must be given proper compensation and benefits for the work performed. They must not be made to work for