Question

Compare UK economic growth in the years preceding the meltdown to the growth that has occurred since the meltdown. What is the UK’s current debt as the percentage of GDP? How does the economic growth and debt compare to other countries in the EU? To the US?

Answer 1

It has been observed that the economic growth in the United Kingdom in the years preceding the meltdown was more than the economic growth that has occurred in the United Kingdom since the meltdown. The meltdown has reduced the rate of the economic growth in the United States.

The UK's current debt as the percentage of GDP is equivalent to 87.2 per cent of GDP. In the wake of the crash of 2008 and subsequent recession, the national debt has almost doubled.

Compared to the debt level in the United States, the national debt to GDP level in the United Kingdom is low. Compared to other countries in the European Union, the debt level in the united Kingdom is average. Countries such as Greece, Italy, , Belgium, Cyprus, Portugal have higher debt level as compared to debt level in the United Kingdom.