Britain’s multi-billion pound illegal drug and s*x industries have helped the United Kingdom leapfrog France to become the world’s fifth largest economy. MSN.com has more:
The latest global economic league tables includes a £10bn boost in UK earnings from drugs and s*x – which earlier this year led to Brussels issuing a £1.7bn bill to the Treasury.
New figures from the Centre for Economic and Business Research (CEBR) also forecast that the UK economy will pass Germany’s after 2030, for the first time since 1954, with a declining population identified by researchers as a “likely weakness” for the European industrial powerhouse.
While the Chancellor George Osborne may cite the new rankings as further evidence of the success of his financial strategy, the UK’s jump up the table comes with a caveat – as the French do not include prostitution or narcotics income in gross domestic product (GDP) calculations.
The CEBR survey also forecasts that Britain’s lead economic role in the Commonwealth will soon end. India’s growing economy is on course to overtake the UK within three years, and is expected to become the world’s third largest by 2024.
CEBR chief executive, Douglas McWilliams, pointed to new evidence of “dramatic changes” taking place. He said: “Slow-growing European economies are falling back and Asian economies, even though their growth is slowing, are catching up.”
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