MYTUTOR SUBJECT ANSWERS

334 views

What are some of the benefits of redistributing income in the UK?

The redistribution of income refers to the shifting of income from 'winners' to losers'. Currently there is a massive issue with the rich getting richer in the UK while the poor are getting poorer. As a result this is a very relevant topic and is being discussed frequently today. 

If the NMW is raised in the UK in an attempt to do this, it can be expected that people with lower/weaker incomes can be helped as standards of living rise for the masses. 

The impact of low inflation is significantly small on most of the people in the UK, however it greatly impacts those on or close to the poverty line. Therefore if income is more evenly distributed through raising the NMW, less people in this bracket should feel the effects of lower levels of inflation. In fact if the NMW is raised to a considerable degree, many people would be able to escape the 'Poverty Trap' and so the government are paying less benefits and even gaining through higher levels of employment; if the UK is moves towards full capacity output as a consequence of more people in work, it is able to be more competitive in the International marketplace. 

Safiyyah H. GCSE English Language tutor, A Level English Language tut...

8 months ago

Answered by Safiyyah, an A Level Business Studies tutor with MyTutor


Still stuck? Get one-to-one help from a personally interviewed subject specialist

8 SUBJECT SPECIALISTS

Robyn C. A Level Business Studies tutor, GCSE Design & Technology tut...
£30 /hr

Robyn C.

Degree: Business Management (Bachelors) - Cardiff University

Subjects offered:Business Studies, -Personal Statements-

Business Studies
-Personal Statements-

“Hi, my name is Robyn and I am a Business Management student at Cardiff University.  I am very patient and friendly and really enjoy teaching. I have been teaching Taekwondo since I was 15, so have a lot of experience teaching, with pe...”

£20 /hr

Nathan B.

Degree: International Relations and Politics (Bachelors) - Sheffield University

Subjects offered:Business Studies, Maths+ 1 more

Business Studies
Maths
History

“My love for teaching and learning will shine through and ensure that every student achieves what they want to achieve!”

£20 /hr

Modupeola A.

Degree: Accounting and Finance (Bachelors) - Edinburgh University

Subjects offered:Business Studies, English Literature+ 4 more

Business Studies
English Literature
Economics
Accounting
-Personal Statements-

“I am a part-time tutor studying Accounting and Finance at the University of Edinburgh. I look forward to working with you to achieve your target grades. ”

About the author

Safiyyah H.

Currently unavailable: for new students

Degree: Management with Marketing (Bachelors) - Leeds University

Subjects offered:Business Studies, English Language

Business Studies
English Language

“Hi, My name is Safiyyah and I am a first year doing BA Management with Marketing at the University of Leeds. I enjoy quite the array of subjects so to pick just one degree wasn't the easiest of tasks for me...but hey 3 cheers for tuto...”

You may also like...

Posts by Safiyyah

How do I analyse English Language exam texts?

What are presentational features and how do you use them to answer analyse texts?

What are some of the benefits of redistributing income in the UK?

Other A Level Business Studies questions

What is cash flow?

What is a benefit of market segmentation?

What are the causes of diseconomies of scale?

What are methods of promotion?

View A Level Business Studies tutors

We use cookies to improve your site experience. By continuing to use this website, we'll assume that you're OK with this. Dismiss

mtw:mercury1:status:ok