UK GDP boosted by drugs and prostitution

UK GDP boosted by drugs and prostitution

Wed Oct 1, 2014 10:47PM GMT
http://www.presstv.ir/detail/2014/10/01/380728/uk-gdp-boosted-by-drugs-and-prostitution/

New figures published by Britain’s Office for National Statistics (ONS) show spending on illegal drugs and prostitution boosts the UK’s economy by an estimated 12.3 billion pounds.

The ONS report published on Tuesday, included for the first time “illegal activities” such as narcotic drugs and prostitution in its statistics.

The report shows that illegal narcotics added 6.62 billion pounds to the British economy in 2013. It also reveals that prostitution added around a further 5.65 billion pounds to the country’s economy.

Combined, illegal drugs and prostitution consisted 0.7 percent of Britain’s GDP, giving them the same economic significance as agriculture has in Britain’s national output and more significance than the advertising industry that consists 0.5 percent of the GDP.

A separate report published in May showed that between 1997 and 2009, the UK’s economy received a 10-billion pound boost from illegal drugs and prostitution, an amount almost six billion pounds more than that spent on constructing houses during the same period.

The May figures followed the publishing of European Drug Report 2014, which showed that after the analysis of the sewage systems of 42 cities for trace amount of drugs, London had the highest use of cocaine.

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