Britain is considered a developed nation. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developed nation, the UK is able to provide its citizens with social services such as public education, health care and law enforcement. Citizens of developed countries enjoy a high standard of living and longer life expectancies than citizens of developing countries. The UK exports about US$813.2 billion and imports about US$782.5 billion each year. 4.4% of the country's population is unemployed. The total number of unemployed in the UK is 2,929,234. In the UK, 16.2% of the population lives below the poverty line. The percentage of citizens living below the poverty line in the UK is quite high, but not a cause for great concern in terms of investment. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 5.5% of GDP. The country's Gini index is 32.4. The UK is experiencing good equality. The majority of UK citizens fall within a narrow income bracket, although some cases can show significant differences. The UK has a Human Development Index (HDI) of 0.892. Great Britain has a very high HDI value. This suggests that almost all citizens are able to live a desirable life because of social and economic support; Citizens with a low standard of living receive help and support and have the opportunity to rise in society. The Global Peace Index (GPI) for the UK is 1.685. Due to the strong presence of the law enforcement authorities and the high social responsibility, the United Kingdom is very safe in international comparison. The Strength of Legal Rights Index for the UK is 7. Overall it is considered to be fairly adequate – bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least adequately; Credit reports are usually sufficient and generally available.
The currency of the United Kingdom is British Pounds. The pound sterling 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 continuously used currency in the world and is currently the fourth 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 £, abbreviated GBP. The British pound is divided into pennies; There are 100 in a pound.
The UK's credit depth index is 8, which means that the information is mostly sufficient and fairly detailed; Accessibility is not a problem. According to the rating agency S&P, the UK has a credit rating of AAA and the outlook for this rating is stable. According to the rating agency Fitch, the UK has a credit rating of AA+ and the prospects for this rating are stable. According to rating agency Moody's, the UK has a credit rating of Aa1 and the outlook for this rating is stable.
In the United Kingdom, the institution that administers the state's currency, money supply and interest rates is called the Bank of England. The average interest rate on deposits offered by local banks in the UK is 4%.
The UK has a public debt equivalent to 90% of the country's gross domestic product (GDP) as estimated in 2012.
UK corporation tax is 19%. Personal income tax ranges from 20% to 45% depending on your specific situation and income level. VAT in the UK is 20%.