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United Kingdom Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
65 648 100
GDP (PPP)
$2.88 trillion (2017 est.)

Third largest economy in Europe after Germany and France

GDP growth rate
1.7% (2017 est.)

Medium, it has slowed from very good levels in 2014 and 2015

GDP (PPP) per capita
$43,600 (2017 est.)

High

Local currency
British Pound (GBP)

Strong currency, it depreciated recently due to the Brexit uncertainty

Financial stability (Public debt)
90.4% of GDP (2017 est.)

High, with a high deficit adding pressure (total public debt including subnational entities is included)

Inflation
2.6% (2017 est.)

Medium, it has accelerated sharply from 2016 (it was 0.7%)

Language
English

Corruption perception index (Source: Transparency International)
8/180

Very low level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT

20% (5% for certain reduced-rate supplies) under the current rules of the EU Uncertainty remains about whether these will be maintained in the future
Corporate Tax

19% normal corporation tax rate
Duties

For the time being, the EU rules apply, however, uncertainty remains about whether the UK will remain in the customs union in the future

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