Thursday, May 29, 2014
Drugs and prostitution add £10bn a year to UK economy
(Telegraph) - Prostitution and illegal drugs are contributing around £10bn a year to the British economy, according to official data.
More than half of that - £5.3bn - is attributable to prostitution, the Office for National Statistics (ONS) said on Thursday, while illegal drugs are worth £4.4bn.
Together, these shadowy activities are likely to increase the level of GDP in 2009 - the most recent year which the ONS has calculated the data for - by around £10bn.
Other illegal activities, such a the smuggling of alcohol and tobacco, are already included in GDP and make up some £300m.
The inclusion of illegal drugs and prostitution is part of radical changes being made to European Union regulations on calculating GDP.
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