Tuesday, May 02, 2017

On current exchange rates, Britain is the world’s fifth-largest economy, but no one seriously believes it produces more goods and services than India, Brazil or Indonesia.

The UK’s prosperity level is not even in the top 15 per cent of IMF members.

The US, Germany and France are far ahead of Britain in the productivity league tableand output per head and per worker does not even match that of Italy.

Spending on public services is severely strained: at 39 per cent of national income, it is 5 percentage points below that of Germany. 

Britain's economy: how strong is it?

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