Macro facts Flashcards
what was annual UK GDP growth 2022?
4%
what % of AD was consumer spending?
64%
how much has the UK labour force decreased since before covid?
700,000
how does UK investment as a % of GDP compare to Germanies?
UK investment= 18% of GDP
German investment= 24% of GDP
what is the cause of a drop in private investment since 2016?
BREXIT
how does UK productivity compare to the G7 average?
UK productivity 16% lower than the G7 average
what is the inflation rate as of Feb 2023?
10.4%
what is the current account deficit as a % of GDP
3.1% of GDP
how much lower are imports and exports between the UK and EU as a result of Brexit?
15% lower
what are the new trade deals that the UK has completed since Brexit?
Japan, Australia and New Zealand however these are insignificant compared to EU. e.g Aus makes up 1.6% of Uk trade
what is the current UK output gap?
zero
how much of government spending is on the NHS?
22%
what is the tax burden expected to reach in 2027?
37.7% highest since 1940s
what did the bank of England raise interest rates to in May 2023?
4.5%
since 2008 how much have the government spent on bonds?
£900 billion
