According to the Centre for Economic and Business Research (CEBR), the UK could be in a position to overtake Germany as the largest economy in Europe by 2030.<\/p>\n
The think tank cited growth in population, a low-tax regime and insulation from the worst of the problems in the Eurozone for the increase in the UK\u2019s economic success.<\/p>\n
According to the report, in addition to the UK’s population growth boosting economic expansion, “lesser dependence on other European economies” would also aid progress, as well as “relatively low taxes by European standards.”<\/p>\n
However, as far as Germany was concerned, the CEBR said that, should the Euro “break up”, then its outlook would \u201cbe much better\u201d, while predicting that France will be one of the “worst performing” of the Western economies, and will be overtaken by the UK by 2018 because of slow growth due to “high taxation” and the \u201cgeneral issues of Eurozone economies\u201d.<\/p>\n
At the same time, the CEBR predicts that emerging economies, such as India, Brazil and Russia, will push the UK down the overall rankings to number seven but the country will be the second most successful Western economy behind the US.<\/p>\n
Meanwhile, the US itself will lose its position as top economy in the world to China by 2028, by which time both will be five times as big as India, which is predicted to be in third place.<\/p>\n
The CEBR said it used forecasts for growth, inflation and currency values to compile league tables of the size of economies measured in US dollars in 2013, 2018, 2023 and 2028. However, it said that its predictions needed to be treated with caution, especially in light of the unpredictable fluctuations in currencies.<\/p>\n","protected":false},"excerpt":{"rendered":"
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