Britain has overtaken France to become the world’s fifth largest economy, new analysis shows.
A shake-up of the national accounts this summer, which showed the UK’s downturn during the Great Recession was shorter and shallower than previously thought, helped Britain overtake the Gallic economy by a whisker this year.
The Centre for Economics and Business Research (CEBR) said Britain’s acceleration was also boosted by the inclusion of sex and drugs to UK growth. While the addition of prostitution and illegal drugs form part of new pan-European accounting standards, France has refused to comply with EU rules because it does not consider them to be “voluntary commercial activities”.
(*Source : The Telegraph)