ARE BRITONS……RICHER THAN AMERICANS?

[Anonymous]

Britons ‘richer than Americans’
The
average UK person will this year have a greater income than their US
counterpart for the first time since the 19th Century, figures
suggest.Analyst Oxford Economics said the UK’s GDP per head of
population will reach £23,500 – £250 higher than in the US.However,
because goods and services are cheaper in the US, Americans will have
stronger purchasing power, it added.UK GDP per capita will also be
higher than in Germany (£21,665) and France (£21,700), Oxford Economics
calculated.Managing director Adrian Cooper said: “The last 15 years
have seen a dramatic change in the UK’s economic performance and its
position in the world economy.

“No longer are we the ‘sick man of Europe’.”
Oxford
Economics said that in 1993, following the last major recession and the
UK’s ejection from the ERM, GDP per capita in the UK was 34% lower than
in the US, 33% lower than in Germany and 26% lower than in France.It
said the improved UK position reflected the sustained strong growth it
has enjoyed since then and the recent strength of sterling.Mr Cooper
said: “The UK has been catching up steadily with living standards in
the US since 2001, so it is a well-established trend rather than simply
the result of currency fluctuations.” 

[Author]

January 8, 2008 at 1:02 PM