What is Third Way Identify patterns and changes in British Economic policy since 1997

Labor Party is a contemporary British political, social and economic force that remodeled the politics of the United Kingdom into a European Union main contender for development and democracy success. Tony Blair as the leader of Labor party is attributed as the force behind the new economic and political change in Europe. The partys Third way philosophy came has enhanced some form of government decentralization procedures that have produced amazing results in the education sector, reduced government administrative expenditure, decentralized government policy making process while adopting child development policies that have enhanced the economic development of the kingdom. Monetary and investment reforms were made with the establishment of healthcare projects aimed at promoting social equality.

Service delivery and social life has significantly changed in the United Kingdom with the launch of better child and family policy. Notably, pre-school facilities have been expanded by the Third Way government in an action aimed at eradication poverty and ignorance. Child care was placed under the public financing scheme in order to provide effective services to the general public. The government instituted pre-kindergarten and nursery facilities at an affordable price in the hope of revitalizing the education system. According to Teresa Smith, Effective Provision of Preschool Education (EPPE) research has applauded provision of subsidized education has change the lifestyle of disadvantaged families thus increasing children education that in return affects that economic value of the kingdom. The 2006 Childcare act set a framework for local authorities that stipulated the provision of inclusive social services to children under the age of five was mandatory. Therefore as stipulated in the Every Child Matters, the government agencies are under the obligation to provide health services, education, accommodation, safe upbringing and alleviating of economic differences between the advantaged and the disadvantages. Teresa (2007) maintains that the Labor government changed the family policy in order to include children in the economic balance in order to achieve uniform development. Child poverty has been viewed by the government as the cause of poor performance in schools-as children from poor quarters underachieved in education coupled up with poor medical care and accommodation that is later reflected as a source of national poverty. Therefore in order for Britain to gain admiration of the European Union the child policy can rated as a change in the UK economic pattern as more funding to preschool achievement has been rolled out.
Further, the New Labor government admiring quality of government services delivery and in order to acquire appropriate tool to measure whether the services got to the right people in 1998, the Public Service Agreement (PSA) reform was quantified to engage in child poverty reduction by quarter the previous financial year. Jack Diamond (2008) maintains that the government agency is charged with the responsibility to promote agreement between the public and the government in regard to harmonizing government and people led priorities. PSA holds the authority to define department responsibility, performance and value for money in achieving government policies.

The third way is seen as a political journey out of the conservative Thatcher governance that ended in the early 1990s. The conservative government introduced Healthcare reforms that created a competitive provision of health services with the government financing. Third way ideology of revisionism healthcare improvement introduced in 1997 by the Labor Party, as explained by Valeria Della Rosa (1999) changed the face of competition bringing about order by enhancing cooperation and partnerships in the provision of National Health services. The main campaign that faced the healthcare provision change was to include fairness and equity in the Labor Party led reforms. Hough the reform was intended to separate competition inefficiency from the government health care funded expenditure in order to bring about mutual beneficial cooperation. Nevertheless, John Hills (2009) claims that health inequalities have widened due to increased widened gap in income earning. The third way philosophy whose main agenda was to build a lasting social democracy that encompassed social order in provision of services with equity was achieved in Healthcare reforms.
Employment of the jobless youth and creation of jobs that could bring about social equity were initiated by the Labor party manifesto that identified the government had the responsibility to provide viable employment opportunities as an incentive and motivating factor to pull out underclass citizens out of government dependence welfare services. The leader of the Third way of thinking Tony Blair introduced a new minimum wage scheme that would ease up the issue of the widening gap in national remuneration. In a move to alleviate poverty the governments New Deal Plan has encouraged social equity and order that in return led to financial freedom for the citizens of United Kingdom.   

The New Labor proposed an economic reform agenda that targeted to reform the Central Bank. Tony Blair noted in the New Labor Manifesto of the UK Labor Party (1997) that there new philosophical outlook intended to direct borrowed money into investment that could revive the neglected rail roads and streamline other economic factors. Later Chancellor Gordon Brown as reported by Simon Bulmer an Oxford Journal   is attributed to have made a decision that advocated for the commission of a single Euro currency that could successively rejuvenate the UK economy. The UK led the deliberations to ensure the financial success of the European Union while back at home employment, investment and entrepreneurship policies were put in place.
The third way stimulated development in an effort to do away with tax and expenditure tendencies that invited inflation. Instead the Tony Blair led campaign stressed the need to implement a fiscal policy that involved the appeal that established a flexible labor market that could rejuvenate the economy through employment creation. As a measure to counter poverty due to ill-distribution of wealth, the third way considered restructuring of the tax laws whereby working tax credits was launched. Accounting to Malcolm Sawyer (2006) of the University of Leed, within the first one year of the third way operation poverty and unemployment were significantly cut down. The New Labor provided an infinite microcredit atmosphere that reversed inflation for economic growth from the stable 2.9 growth rate that the conservative government maintained. Sawyer (2006) insists that the tax reforms and flexible labor market improved the redistribution of wealth that in return reflected a falling rate of unemployment.

The New Labor initiated the Private Finance Initiative (PFI) that according to Sawyer (2006), PFI as part of the financial reform agenda is the key to high interest in public entrepreneur activities. Many hospitals, schools and other initiatives were put up in accordance with the PFI policy. Another laudable economic monetary policy that the third way undertook was to move interest rate decision making authority to the Bank of England that credibly controlled inflation rate consequently attracting investors. Proactive policy management promoted investment that in turn led to employment of many youths and sole families under the family policy. Sawyer (2006) agues that Private Finance Initiative increased public demand for a flexible labor market led to stead employment. Living standard and household economic power progressively improved the governments targets to redistribute wealth in order to acquire social democracy and equity.   

In conclusion, the third way visionary success delivered radical reforms in the political and socio-economic sector. The British GDP improved with eradication of poverty in school children, creation of employment real opportunities in a reformed flexible labor force. The third way was a reformist agenda with monetary and cooperation motives aimed at preparing the United Kingdom as the most equal European Union supremacy display of prosperity.   

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