Hello, my name is Ms. Wyatt, and I'm so pleased that you could join us here today for our Citizenship lesson.

Welcome to today's lesson on "What role can I play in the future of the UK economy?" from the unit What has the UK economy got to do with me? By the end of today's lesson, you will be able to explain why the economy matters to me and what citizens can do to support the economy.

We will be using the following keywords in today's lesson, and our keywords are economy and inflation.

Economy is the state of a country or region in terms of the production and consumption of goods and services and the supply of money.

Inflation is the rate at which the general level of prices for goods and services rises, causing the purchasing power of money to fall.

Some of these keywords may be new to you today, but please don't worry as I am here to guide you.

Our lesson on what role can I play in the future of the UK economy is split into two parts today, with the first part exploring the question of why does the economy matter to me, and then looking at what can citizens do to support the economy.

So when you are ready, let's begin today's lesson.

The economy plays a crucial role in shaping daily life, from the price of food to the availability of jobs.

When the economy is strong, businesses grow, wages rise, and people have more job opportunities.

However, during economic downturns, businesses may struggle, unemployment rises, and prices increase.

This makes it harder for people to afford essentials.

So the economy is a strong thing in making what life is for us.

When the economy is strong, wages rise, jobs grow, people have more opportunities.

However, when it's on a downturn, businesses can struggle, unemployment does rise, and the price of living does increase.

For example, the cost-of-living crisis in the UK, which started in 2022, saw inflation rise and food and energy prices increase significantly.

So the cost of food and the price of energy and our energy bills went up massively.

Many families had to cut back on spending or rely on government support as wages didn't increase fast enough to match the rising costs.

This demonstrates that when the economy struggles, it directly affects people's daily lives, from food shopping to paying household bills.

A healthy economy allows people to earn money and spend it on essential goods like housing, food, and transport.

However, when inflation rises too fast, the value of money decreases, meaning people can afford less.

Now, when we talk about inflation, we mean it's referring to a general increase in the price of services and goods in an economy over a period of time.

For example, in 2022, UK inflation peaked at over 11%, making everyday items like milk, bread, and petrol much more expensive than the year before.

Many workers demanded higher wages to keep up with the rising prices, leading to strikes in industries such as healthcare, transport, and education.

Jacob says, "I think the cost-of-living crisis affects most families.

Food is so expensive now, and the rent and mortgage rates have risen." Andeep says, "I volunteer in the Gurdwara, and there are lots more people coming in to get free food.

I think that is a result of the cost-of-living crisis too." So let's have a go at filling in the missing words in our sentences here.

So it says, a blank economy means that there are more jobs, businesses grow, and wages blank.

In contrast, in blank downturns, people may struggle to get blank, businesses might shut down, and blank increase.

The economy plays a crucial role in shaping daily blank.

So we've got a few missing words here.

Let's pause the video and try and fill in the gaps in our sentences.

Okay, hopefully we've had enough time now to fill in the missing words, so we're going to go through it together.

So a strong economy means that there are many more jobs, businesses grow, and wages increase.

In contrast, in economic downturns, people may struggle to get jobs, businesses might shut down, and prices increase.

The economy plays a crucial role in shaping daily life.

So we had strong, increased, economic, jobs, prices, and life.

Those were our missing words.

Well done if you managed to fill those in correctly.

If inflation is not controlled, people's purchasing power weakens and economic inequality can worsen.

The Bank of England tries to manage inflation by adjusting interest rates, but these decisions also impact borrowing costs, affecting businesses and individuals.

The economy determines how much money the government has to spend on services like healthcare, education, and public transport.

When the economy is strong, the government collects more taxes from businesses and workers, which funds better hospitals, schools, and roads.

For example, in 2023, the UK government increased NHS spending to help reduce long waiting times for medical treatments.

However, during economic downturns, tax revenue may fall and governments may struggle to maintain these services.

In the UK, there have been recent cuts to local council budgets, meaning very fewer services like youth clubs, libraries, and road maintenance, are closing, or there's less services being available for things like that.

A well-functioning economy ensures that essential services remain available and improve over time.

A strong economy means businesses are expanding and hiring, giving young people more career opportunities.

Some industries grow more than others depending on the economic trends.

For example, in recent years, the UK's technology sector has seen a massive growth, with digital banking companies expanding rapidly.

So digital banking companies are growing really fast because the UK technology sector has had a massive boost.

At the same time, the demand for renewable energy jobs have increased as the UK invests in green energy to reduce reliance on fossil fuels.

So it does depend on the economic trends.

However, during economic times.

However, during tough economic times, companies may cut jobs to save money.

In 2023, large companies laid off thousands of employees due to slower economic growth.

So when it says large companies laid off thousands of employees, this means they had to let them go, so the employees were no longer employed by them.

This shows how economic conditions directly impact job availability and career options, influencing what industries young people consider for the future.

So let's have a go at matching the start of these sentences to their ending.

So we've got five sentences on the left hand side, and we have five endings to our sentences on the right hand side.

So our start of the sentences are: if inflation rises too fast; a strong economy means; number three, during an economic downturn; number four, more jobs mean; number five, the renewable energy sector is growing.

So these aren't complete sentences; they need finishing by using A, B, C, D, or E.

So match up the start of the sentences with their ending.

Pause the video now and have a go at this task.

Okay, well done.

Let's have a go at going through our answers.

So number one, if inflation rises too fast, people can afford less as prices go up.

So it matches to E.

Number two, a strong economy means public services get more government funding.

Number three, during an economic downturn, businesses struggle and layoff workers.

Number four, more jobs mean higher wages and more consumer spending.

And this leaves us with the renewable energy sector is growing due to the government investment in green energy.

So well done if we managed to match the start of the sentences to their ending to make full sentences.

A country's economy affects its ability to grow, develop, and support its people in the future.

A strong economy allows governments to invest in new technologies, education, and industries that create jobs and improve living standards.

For example, the UK's investment in renewable energy, such as offshore wind farms, is shaping the future economy by reducing reliance on fossil fuels and creating thousands of jobs in engineering, manufacturing, and maintenance.

The UK is already a global leader in offshore wind energy, and continued investment in this sector could help lower energy costs for thousands of households and make the country more self-sufficient.

However, if a country fails to invest in future industries, it risks falling behind economically.

For example, some industries in the UK, such as manufacturing and coal mining, have declined over the years due to lack of innovation, global development, and environmental concerns.

This has led to job losses and regional economic struggles.

So areas in the region struggling.

By focusing on the future industries and technological advancements, a country can ensure long-term economic stability and global competitiveness.

The economy affects daily life, from job opportunities to the cost of living and public services.

A strong economy supports growth and stability, while economic challenges can lead to financial struggles.

Government decisions and investments shape future industries, ensuring new job opportunities and development.

Understanding the economy helps individuals make informed financial choices and contributes to a prosperous society as active citizens.

So the government's decisions and investments help shape the future industries, but actually as individuals, if we understand the economy, we are then going to make more informed financial choices and end up contributing to a prosperous society and become active citizens.

So true or false? A country's economy does not affect its ability to grow, develop, or support its people in the future.

Is that true? Is that true or is that false? What do we think? Let's pause the video and have a think about our answer to this question.

Hopefully we've all said it is false.

Why is it false? Well, a strong economy is key to growth and development as it allows for investments in new technologies and industries that create jobs and improve living standards.

Without this, countries risk falling behind, as seen with the decline of industries like manufacturing in the UK.

You have been asked to write a social media post about why the economy matters to you.

So we need to try and make sure we include the words economy and inflation because of Izzy's guidance.

So we just need to write a short social media post about why the economy matters to you.

Let's try and use our keywords of economy and inflation within our post.

Pause the video and have a go at this task.

Okay, so your social media post might include some of the following, and it also might not.

You might have put different things.

But we've said the economy affects everything, jobs, wages, inflation, and the cost of living.

A strong economy means better public services, more opportunities, and financial stability.

When inflation rises too fast or jobs disappear, we all feel it.

Understanding the economy helps us make smarter choices and build a better future.

It matters to me, it matters to everyone.

I think that's an important point to note that you might have put in your social media post as well, that it's affecting everybody, okay? We all feel it.

When inflation rises too fast or jobs start to disappear, we're all going to feel it.

So if we understand the economy and we understand things about inflation and wages and what it means to be living in a stronger economy, this is going to help us make smarter choices and help build a better future for everyone.

We have now looked at why does the economy matter to me, we are now going to explore the question of, what can citizens do to support the economy? Citizens play a crucial role in shaping and supporting the economy through their everyday choices, work, and contributions to society.

The economy thrives when people actively participate, whether through employment, paying taxes, or supporting local businesses.

Being an active citizen means making responsible financial decisions, engaging in the democratic process, and contributing to economic growth in ways that benefit both individuals and the wider community.

Simple actions like supporting local businesses, voting on economic policies, and improving employability skills all help create a stronger and more sustainable economy.

One of the most direct ways to support the economy is through spending choices, so how you use your money and how you spend it.

When citizens buy from local businesses, they help keep money circulating within their communities.

They support jobs and encourage business growth.

For example, choosing to buy from a local grocery store instead of a large multinational corporation helps small businesses survive and expand.

Retail shopping increased in 2024, worth 517 billion pounds, which was an increase of 1.

4% on 2023.

So I just want you to think for a second, think about where you live and your area.

Are there any local businesses around? Could you name any? Maybe you already shop with them and use them.

Additionally, when people save and invest wisely, they provide banks and businesses with the funds needed to lend, invest, and grow.

Responsible financial habits not only help individuals manage their money, so they not only help us deal with our money and how to use it, but also it contributes to economic stability.

So only using five words now, I would like you to summarise how citizens can support the economy.

It's quite tricky task this.

Can you think of five words to summarise how citizens can support the economy? Once you've done that, I would like you to write one sentence to explain your five words.

Okay? So pause the video when you're ready to start this task and have a go at these two tasks.

Okay, so the five words we've picked out are spending, voting, saving, skills, and businesses.

We've used the sentence of citizens can support the economy by making smart spending choices, voting on financial policies, saving money, learning new skills, and supporting local businesses.

So these are just five ways that tries to summarise how citizens can support the economy.

Well done on your efforts with this task.

Active citizenship also involves supporting the economy through employment and skill development.

By gaining new skills and seeking higher education or vocational training, individuals increase their employability, leading to better job opportunities and higher wages.

For example, as the UK moves towards a more digital and green economy, training in technology and renewable energy sectors can create long-term job stability.

When more people are employed, the government collects more tax revenue, which can be reinvested into public services like healthcare, education, and infrastructure.

This then creates a cycle of growth that benefits the whole society.

So when more people are having a job and being employed, the government can then collect the tax from them, which is then put back into the public services.

It's supposed to create this cycle of growth that benefits the whole of society.

For this task, I would like us to write a short headline for an article about how gaining skills and employment supports the economy.

So how does learning new skills and getting a job support the economy? Pause the video and have a go at this headline task.

Okay, let's have a look at our short headlines that we wrote then.

So these are an example of some of ours.

So the first one we could have: "Skills and Jobs Drive Economic Growth and a Stronger Future." Really short and snappy.

"More Training, More Jobs: How Skills Power a Stable Economy." And "Education and Employment: the Key to a Long, Thriving Economy." So these are just some of the short headlines for an article about how gaining skills and employment supports the economy.

I wish I could see all of your short headlines.

Another important way citizens can support the economy is by helping to control inflation.

Inflation occurs when prices rise, reducing the purchasing power of money.

While governments and central banks manage inflation through policies like adjusting interest rates, citizens can also play a role.

So we can also play a role.

It's not just governments and central banks.

For example, when people spend money wisely and avoid unnecessary borrowing, it helps reduce excessive demand that can drive prices up.

Additionally, active citizens can push for policies that address inflation, such as supporting fair wages to help workers keep up with the rising costs.

They could do this by lobbying their Member of Parliament, or MPs.

Understanding inflation and making informed financial decisions can help keep the economy stable.

As an active citizen, what is one action you could take to help reduce inflation's impact then? Have a think, what is one action that you could do to help reduce the inflation impact? Pause the video and have a think about this question.

Okay, we've had some time to think.

So what is one action that we could do? We could say, I could budget my spending and avoid that unnecessary borrowing to reduce demand.

You could support policies that promote fair wages, ensuring workers can afford rising costs without excessive borrowing.

You could lobby your MP to change policies to control inflation.

So these are some of the actions that you could do to help reduce inflation's impact.

For this task, we need to write a letter to a teenager living in the UK 50 years from now about citizens supporting the economy.

In your letter, you need to include an introduction.

So explain why the economy's important and why you are writing this letter.

You need to include three main points.

Each paragraph should describe one way people can support the economy today, with an explanation and an example.

Think about what we've just talked about with being an active citizen.

And then a conclusion.

You need to give final words of encouragement on how the future generation can continue to be active citizens and shape a strong economy.

So let's pause the video and have a go at writing a letter to a teenager living in the UK 50 years from now about how citizens can support the economy.

Okay, so we have written a letter and hopefully you have too.

I'm going to read through as and see if we have any similarities.

So, dear future citizen, I hope this letter finds you in a thriving UK economy.

As an active citizen, there are many ways you can support your country's economy.

I'll share them with you so your generation can continue building a strong future.

One way citizens support the economy is through choosing to buy from local businesses instead of large multinational companies.

This helps to keep money within their communities, create jobs, and support small entrepreneurs.

For example, many people in 2024 started shopping at independent grocery stores.

This strengthens local economies, helping businesses grow and keeping areas thriving.

Another way to support the economy is by gaining skills and education that match the needs of the job market.

For example, the demand for renewable energy and technology jobs has increased in the 2020s, meaning people who train in these areas are finding more opportunities.

The more people work in growing industries, the stronger and more competitive the economy becomes.

Finally, people can support the economy by making informed financial decisions, especially relating to inflation.

Citizens can manage their spending wisely and support policies that promote fair wages and responsible economic management.

For example, in recent years, some people voted for leaders who promised to take action against rising prices.

This is why being an active citizen, voting, staying informed and holding governments accountable is crucial for a stable economy.

The choices we are making today shape the future economy that you live in now.

By continuing to support local businesses, investing in education, and staying engaged in financial and political decisions, you and your generation can ensure the UK remains strong and prosperous.

The economy isn't just something controlled by governments, it's something that all citizens, including you, help to shape.

Keep making smart choices, and together we can continue to build a better future for the economy.

Best wishes, a citizen from 50 years ago in the UK.

So your answer might have included some of the same as what we've included, and you might have added in some extra in other parts as well.

But well done on this big task of writing a letter to someone who is living in the UK in 50 years time.

We have now come to the end of our lesson on what role can I play in the future of the UK economy, and I'm going to summarise it for us.

So the economy affects jobs, wages, public services, and the cost of living.

Citizens support the economy by spending wisely, paying taxes and gaining skills for employment.

Active citizens can further help the economy by voting on economic policies, supporting local businesses, and making informed financial decisions.

Inflation reduces purchasing power, but responsible spending and fair wage policies help keep the economy stable.

Investing in future industries like technology and renewable energy creates long-term economic growth and job opportunities.

So well done on all of your efforts in today's lesson on what role can I play in the future of the UK economy.

We have now come to the end of this unit and the end of the lesson.

So thank you for all of your efforts again, and see you soon.