How's the UK doing

Question 1

UK annual growth 2024

Answer 1

1.1%

Question 2

UK Q3 & Q4 growth

Answer 2

Q3: 0%
Q4: 0.1%

Question 3

UK annual growth forecast 2025

Answer 3

1%
high interest rates
high taxation
cuts to gov spending
low consumer and business confidence (Trump tariffs)
high energy / food prices (despite disinflation)
poor productivity, infrastructure, public services

Question 4

UK output gap (actual output vs potential output)

Answer 4

-0.6%

Question 5

UK GDP per capita

Answer 5

£36,000

Question 6

UK GDP

Answer 6

£2.851tr
79% services
14% manufacturing
6% construction
1% agricultural

Question 7

UK unemployment rate

Answer 7

4.4% (on the rise)
cyclical unemployment

Question 8

UK employment rate

Answer 8

75.1% (lower than pre-COVID)
rise in economic inactivity

Question 9

UK economic inactivity rate

Answer 9

21.4%

Question 10

UK wage growth

Answer 10

5.9%

Question 11

UK job vacancies

Answer 11

falling

Question 12

UK consumer confidence

Answer 12

very weak :(

Question 13

UK inflation

Answer 13

2.6%

Question 14

UK wage growth

Answer 14

5.9%

Question 15

UK Current account deficit

Answer 15

2.6% of GDP

Question 16

UK productivity and investment

Answer 16

Very poor

Question 17

UK Minimum wage

Answer 17

£12.21/hour

Question 18

UK exchange rate

Answer 18

Weak: £1 = $1.32, EU1.16
Not good considering we import necessity imports

Question 19

UK BoE base rate

Answer 19

4.5%

Question 20

UK budget deficit

Answer 20

4.8%

Question 21

UK national debt

Answer 21

95% of GDP

Question 22

UK income tax bands

Answer 22

0% to £12,570
20% to £37,700
40% to £125,140
45% over £125,140
(frozen to April 2028 - bad, because wage increases in line with inflation bringing people up into higher tax brackets)

Question 23

UK Corporation tax

Answer 23

25%

Question 24

UK VAT

Answer 24

20%

Question 25

UK Gini coefficient

Answer 25

0.357