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VI. Translate into English:

1. Великобританiя є дуже розвинутою морською iндустрiальною державою. 2. Вона має змiшану економiку, що ґрунтується на при­ватному та державному пiдприємництві. 3. Держава контролює вугле­добувну та електроенергетичну галузі, чорну металургiю та суднобу­дування. 4. Промисловiсть, послуги та сiльське господарство є го­ловними секторами британської економiки. 5. Розквіт Великобританiї як iндустрiальної держави зумовлювався наявнiстю значної кiлькостi мiнеральних ресурсiв. 6. Вугледобувна, металургiйна, текстильна та суднобудiвна — це найстарiші галузі промисловостi. 7. Новими галу­зями промисловостi є хiмiчна, електротехнiчна, автомобiльна та авiара­кетна. 8. Лондон, Глазго, Манчестер, Лiверпуль, Шеффiлд та Бiрмiнгем є основними промисловими центрами Великобританiї.

VII. Give the characteristic of British economy using

the following words and word-combinations:

highly-developed naval and industrial power; mixed private- and public-enterprise economy; coal-mining and electric power industries; ship-building; ferrous metallurgy; private enterprise; public transport; civil aviation; national bank; manufacturing; services; agriculture; vital role; to account for; workforce; GNP; due to; considerable mineral resources; new industries; electrotechnical, automobile, aeromissile industries; hand-in-hand; science and technology; to meet present technical demands.

Reading drills

1. Practise the pronunciation of the following words:

a) stress the first syllable:

service, income, product, health, retail, wholesale, implement, monetary, policy, tourism, supervise, purchase, partner, textile, business, export, banking, loan, mortgage, leasing, output, lending, futures, Commonwealth, aircraft;

b) stress the second syllable:

increasing, increasingly, particularly, commodity, proportion, domestic, finance, financial, commercial, insurance, responsible, community, machinery, include, accept, comprise, society, facility, deposit, arrange;

c) stress the third syllable:

education, international, democratic.

Text B

Services play an important role in British economy and make up1 an increasing proportion of the national income2. They account for about 60 per cent of gross domestic product and 68 per cent of employees. This sector includes health, education, retail and wholesale trade3, tourism, financial and business services, insurance4, transport, etc.

Banking, finance, insurance, business services and leasing account for 14 per cent of the British economy’s total output. London has the world’s largest insurance market, and its banks are responsible for5 about a fifth of the international bank lending. London is the world’s principal trading centre for commodities, as well as an increasingly important centre for financial futures markets.

Britain’s banking system comprises the Bank of England, the commercial banks, branches of foreign and Commonwealth banks6 and building societies7. The Bank of England acts as the government’s bank. It helps to implement the government’s financial and monetary policy and supervises the banking system as a whole. Commercial banks provide financial services to individuals and companies, particularly account and loan facilities. Building societies accept deposits8 and arrange mortgages9 for house purchase. They also offer home loans and a wide range of banking and insurance services.

Britain has an open economy, in which international trade plays a vital role. About one-quarter of its gross domestic product comes from the export of goods and services. It is the fifth largest trading nation in the world. Since 1973 Britain has been a member of the European Economic Community, an association of 12 democratic states. About half Britain’s trade is with its European Community partners. Britain’s main exports are automobiles, textile, machinery, aircraft, electronic equipment and many others.

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