News article

UK 'worth £7tn'

UK 'worth £7tn'
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The UK economy is currently worth a total of £7 trillion, according to new figures from the Office of National Statistics (ONS).

Stocks, shares, bank accounts and pension plans make up around £26 trillion of the economy, reports the Telegraph, though this figure is outweighed by the national debt.

At £4 trillion, housing remains the UK's biggest asset, comprising around 60 per cent - an increase of ten per cent on last year.

Net assets increased by a record £506 billion, meaning each household in the UK is worth an average of £300,000. Each individual is said to be worth an average of £125,000.

Overall, there is a net negative contribution to the UK economy of £380 billion.

The ONS aims to compile reliable and impartial statistics to allow for the proper allocation of resources, policy-making and decision-making.

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