The UK has climbed one place in a list of the world\u2019s top performing economies, a global thinktank has said.<\/p>\n
The World Economic Forum (WEF) has placed Britain ninth in its list of the top performing economies, one place ahead of Sweden, but a place behind the Netherlands.<\/p>\n
This represents a step up from tenth in last year\u2019s ranking, a move that that has been welcomed by the Treasury.<\/p>\n
The WEF said Britain had a wealth of sophisticated businesses and was willing to adopt the latest technologies, which put it in a healthy position to improve productivity over the next few years.<\/p>\n
It also said that a reduction in public sector deficit and the creation of one of the most flexible labour markets in the developed world had made the UK a popular place to invest, pushing the country further up the list.<\/p>\n
However the WEF warned that Britain could not continue to rise up the ranks unless businesses were given greater access credit and finance.<\/p>\n
It also said that in order for the country to prosper economically it needed to simplify tax rates, which it said are currently to complex and too high.<\/p>\n
The Geneva-based thinktank rewarded Switzerland with the top spot among the 144 countries included in the index, while Singapore ranked second.<\/p>\n
The Chancellor of the Exchequer, George Osborne, said the index was further evidence that Britain\u2019s long term economic plan was delivering a more competitive economy.<\/p>\n
He highlighted the direct link drawn by the WEF between a credible fiscal policy and “our country’s ability to attract business and create jobs”.<\/p>\n","protected":false},"excerpt":{"rendered":"
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