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In 2007, the UK had the world's third largest current account deficit, due mainly to a large deficit in manufactured goods. In May 2008, the IMF advised the UK government to broaden the scope of fiscal policy to promote external balance. [89] The UK's output per hour worked was on a par with the average for the "old" EU-15 countries. [90]
The UK has rarely been self-sufficient in terms of food supply. In 2023, the country was 54–60% self-sufficient in food. [4] [5] In 2022, the country produced enough sheep and milk to be self-sufficient, and almost enough poultry, eggs and cereals, but other foods, such as rice, tomatoes and exotic fruits, had to be imported. [6]
The city's thriving nightlife is estimated to be worth £340 million per year, and consequently is seen as a major contributor to Newcastle's economy. [232] The UK's first biotechnology village, the Centre for Life, is located by Central Station. The village is the first step in the City Council's plans to transform Newcastle into a science city.
The most recent budget was presented by Rachel Reeves on 30 October 2024. The UK fiscal year ends on 5 April each year. The financial year ends on 31 March of each year. Thus, the UK budget for financial year 2021 runs from 1 April 2021 to 31 March 2022 and is often referred to as 2021–22.
Real median household income rose to $80,610 in 2023, up 4.0% from 2022, back to the peak reached in 2019, while earnings for workers as a whole were higher than before the pandemic, a boost to ...
The Institute for Fiscal Studies issued a report Archived 16 June 2008 at the Wayback Machine on the UK's highest earners in January 2008. There are 42 million adults in the UK of whom 29 million are income tax payers. (The remainder are pensioners, students, homemakers, the unemployed, those earning under the personal allowance, and other ...
In addition, the report found that real median household income was $70,784 in 2021, which is not statistically different from the 2020 estimate of $71,186, “and 2.8% lower than the 2019 median ...
Income is up in 2024 According to the Census Bureau, real median pre-tax household income reached $80,610 in 2023 — up 4% since 2022, when real median household income was $77,540.