Finance of United Kingdom

The minimum monthly wage in United Kingdom is 896 USD. United Kingdom has a government debt of 90% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in United Kingdom is 2%. The currency of United Kingdom is British pound. The British pound is the official currency of the United Kingdom and several other small territories including the Isle of Man, Jersey, and Guernsey. The British pound is the oldest continuous currency in use in the world and is currently the 4th-most traded currency. The British pound is a stable currency that can be relied upon for investment opportunities. The plural form of the word British pound is pounds. The symbol used for this currency is £, and it is abbreviated as GBP. The British pound is divided into penny; there are 100 in one pound. Each year, consumers spend around $1,736,557 million. The ratio of consumer spending to GDP in United Kingdom is 0.06%, and the ratio of consumer spending to the world consumer market is 404%. The corporate tax in United Kingdom is set at 19%. Personal income tax ranges from 20% to 45%, depending on your specific situation and income level. VAT in United Kingdom is 20%.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in United Kingdom is $2,569,218 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in United Kingdom was last recorded at $38,592,200. PPP in United Kingdom is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in United Kingdom is 2,678,455 billion. Based on this statistic, United Kingdom is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in United Kingdom. The Gross Domestic Product (GDP) per capita in United Kingdom was last recorded at $40,233,048. The average citizen in United Kingdom has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in United Kingdom averaged 3.2% in 2014. According to this percentage, United Kingdom is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.