2025 UK economic data Flashcards
What is current UK annual GDP growth?
1.1% pa
What is current UK annual GDP per capita?
£36k
What is current UK annual inflation rate?
2.6% pa
What is current UK unemployment rate?
4.4% pa
What is current UK annual wage growth?
5.9% pa
What is current UK fiscal balance and which direction is it going?
4.8% of GDP and rising
What is current UK current account balance?
2.6% of GDP
What is current UK national debt to GDP ratio and what direction is it going in?
95.5% (falling - was >100% during Covid)
What is current UK national minimum wage?
£12.21 per hour
What’s the total value of Bank of England’s quantitative easing, started in 2009 and is it increasing or falling?
£895 billion (but falling)
What is the current UK bank base rate?
4.5%
When did the UK bank base rate start rising from its low point of 0.1%
December 2021
When did the UK bank base rate start falling from its recent high point of 5.25%?
August 2024
Where does the UK currently have free trade agreements with?
EU, Japan, NZ and Australia
What is the current UK rate of corporation tax?
25%
What is the income at which UK income tax currently starts to be paid and is is expected to increase or reduce over next couple of years?
£12,570, frozen to 2028 (fiscal drag)
What is the standard UK rate of VAT?
20%
What is the UK’s current ranking in the Human Development Index?
15
What is the current UK Gini coefficient (measurement of inequality)
0.36 (where 0 = perfect equality, 1 = perfect inequality)
Has the UK’s Gini coefficient increased or reduced over the last 50 years?
increased (was around 0.25 until 1985)
Is sterling curent weak or strong against the dollar and what’s the approximate rate??
weak - £1.30ish to $
What % of UK GVA (gross value added) currently comes from services?
79% in 2022, the latest figures
