MACRO FACTS Flashcards
1
Q
What is the budget deficit in the UK?
A
14.5% of GDP
2
Q
What is the national debt of the UK?
A
> 100% of GDP
3
Q
What expansionary policy was used in the UK during covid?
A
- blank cheque to the NHS
- wage subsidies for NHS workers (furlough)
- increase in welfare (£20 uplift)
- VAT tax cuts to 5%
4
Q
What contractionary fiscal policy is in use in the UK post covid?
A
- national insurance rise of 1.25%
- corporation tax from 19% to 25%
5
Q
What expansionary monetary policy was used during COVID?
A
- interest rates to 0.1%
- massive QE of £450bn
6
Q
What is the inflation rate in the UK?
A
9% CPI
7
Q
What is the unemployment rate of the UK?
A
3.8%
8
Q
What is the youth unemployment rate?
A
11.1%
9
Q
What is wage growth rate?
A
5.4%
10
Q
What is the current account deficit?
A
3.7% of GDP
11
Q
What is the gini co-efficient of the UK?
A
0.363
