Free healthcare! Really! And no waiting!
Posted on 01/10/2008 7:01:22 AM PST by fweingart
For the first time in more than a century the standard of living in Britain is higher than in America, according to a new report.
Analysts at the respected Oxford Economics consultancy say that increasing incomes, free healthcare and longer holidays make the average Briton better-off than his or her US counterpart.
The GDP per head in the UK is expected to exceed that of the USA in 2008 They predict that gross domestic product (GDP) per head in the UK, an indicator of average incomes, will be £23,500 in 2008, compared with £23,250 in America, reflecting the strength of the pound against the dollar and the steady growth of the British economy.
Adrian Cooper, managing director of Oxford Economics, said: "The past 15 years have seen a dramatic change in the UK's economic performance and its position in the world economy.
"No longer are we the 'sick man of Europe'. Indeed, our calculations suggest that UK living standards are now a match for those of the US.
"The UK has been catching up steadily with living standards in the US since 2001, so it is a well-established trend rather than simply the result of currency fluctuations."
advertisementBack in the early 1990s Britain's GDP per capita was 34 per cent below that in America, 33 per cent less than in Germany and 26 per cent lower than in France.
Now, average incomes are not only above those in America but they are more than 8 per cent higher than in France where it is £21,700 and Germany, with a predicted £21,665.
The British financial services boom and soaring house prices have led to an uninterrupted expansion, credited with boosting the UK's strength. And in contrast America and many European countries slid into recession in the early part of this decade.
However the average British person may not feel richer than their US cousins as goods and services there are often vastly cheaper. So, despite earning less, the average American can buy more.
The report authors also warn that a significant fall in the pound against other currencies could push Britain back down the ladder.
Citigroup, the most accurate forecaster of Britain's economy last year, predicts the slowest rise in consumer spending this year since 1992.
Michael Saunders, Citigroup's UK economist, said: "After the credit-fuelled boom in domestic demand and asset prices, the UK economy now faces a hangover, with slowing credit growth, falling property prices and tightening lending standards."
For the first time in more than a century the standard of living in Britain is higher than in America, according to a new report.
The Muslims will live well and better!
Standard of living in UK better than in USAHow do you define standard of living other than by the amount and quality of the goods and services you buy and the amount of free time you have to enjoy them? Being a millionaire wouldn't be so good if it cost you $100,000 for a typical dinner.
...
However the average British person may not feel richer than their US cousins as goods and services there are often vastly cheaper. So, despite earning less, the average American can buy more.
Free healthcare! Really! And no waiting!
I’ll take America over Britain any day of the week and twice on Sunday!
You and me both!
Because journalism no longer requires an understanding of economics or math.
Source please
It sure is nice of those doctors and nurses to work for free, not to mention the free hospitals and medicine donated gratis by God, of course.
Actually, "you get what you pay for" applies here; my sister and her family were in the U.K. when my niece slipped and hurt her tooth. My sister described the hospital personnel and infrastructure in the U.K. as horrendous, eons behind the U.S. in any facet you might use to compare the two systems.
“Analysts at the respected Oxford Economics consultancy say that increasing incomes, free healthcare and longer holidays make the average Briton better-off than his or her US counterpart.”
Free healthcare. lol I love when this is mentioned. When you’re paying exorbitant taxes to fund a gov’t run healthcare program, it’s far from free.
Dolts.
Aside from health care, markets in the UK are relatively free...just like in the US...so it isn’t surprising that the GDP per head measures are close. It also isn’t surprising that France and Germany lag far behind.
Let’s compare the “actual” standards of living. Average home sizes and luxuries, cars, amenities, actual health CARE, etc.
I think this is a self serving feel good piece for the Brits. But whatever makes them feel good is fine with me.
Maybe some of our liberal entertainment elites will buy into this and move over to Europe.
-cunningly concealed in plain sight in the article--
“Source please”
Personal knowledge and visits to the EU on a yearly basis. Stay from 3 to 6 weeks on average.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.