Britain has overtaken socialist France to become the world's fifth biggest economy and now is on course to overtake Germany by 2030 to become Europe's biggest economy for the first time since 1954.
The promising forecast will be an embarrassment to Labour leader Ed Miliband, who is still haunted by his praise for French president Francois Hollande, now leading a faltering economy with record levels of unemployment.
And the analysis also claims that within the next two decades, Germany, held back by a declining population and the weakness of the euro, could be overtaken by the UK, for the first time since 1954. The UK's population is growing twice as fast as the rest of Europe and has had Europe's fastest-growing population for the last decade.
Germany currently has Europe's largest economy and the world's fourth-largest but, by 2030, it will be merely the seventh largest economy on the planet, behind the UK, with France in eighth.
The projections, in the World Economic League Table by the influential City think-tank the Centre for Economic and Business Research, will make encouraging reading for Mr Osborne.
They demonstrate that even though the most recent data shows growth was not quite as robust as at first thought in 2014, the UK’s total output overtook France’s.
However, in 2018 the UK will move back down to sixth when India overtakes it to become the Commonwealth's largest economy.
Brazil will push the UK down to seventh but, by 2030, the UK will climb back up to sixth by overtaking Germany.
And the US's reign as Earth's biggest economy is set to come to an end by 2025 when it is overtaken by China.
Russia looks set to remain a second-rate economic power. It has now slipped from eighth to tenth place in the global league, pushing Canada down to eleventh.
Booming UK 'will overtake German economy by 2030'... and we've already surged past socialist France in global league table
Analysis suggests UK became the world's fifth largest economy in 2014
Germany could be overtaken by the UK for first time since 1954
Projections made by the Centre for Economic and Business Research
British figures aided by ONS including drug and sex trade earnings
India will become the largest economy in the Commonwealth in 2018
China set to overtake the US as the world’s largest economy in 2025
By Alex Brummer and Daniel Martin for the Daily Mail
26 December 2014
Daily Mail
In a significant boost to Chancellor George Osborne, forecasters have claimed the British economy will be larger than Germany's by 2030
The British economy will be larger than Germany’s by 2030, forecasters have claimed.
In a significant boost to Chancellor George Osborne, analysis also suggests that the UK overtook France in 2014 to become the world’s fifth largest economy.
The promising forecast will be an embarrassment to Labour leader Ed Miliband, who is still haunted by his praise for French president Francois Hollande, now leading a faltering economy with record levels of unemployment.
And the analysis also claims that within the next two decades, Germany, held back by a declining population and the weakness of the euro, could be overtaken by the UK for the first time since 1954. The UK's population is growing twice as fast as the rest of Europe and has had Europe's fastest-growing population for the last decade.
The projections, in the World Economic League Table by the influential City think-tank the Centre for Economic and Business Research, will make encouraging reading for Mr Osborne.
They demonstrate that even though the most recent data shows growth was not quite as robust as at first thought in 2014, the UK’s total output overtook France’s.
The growth in Britain’s national accounts was aided by the decision of the Office for National Statistics to include earnings from the previously uncharted economy of drugs and the sex trade. The French figures do not yet include these industries.
CEBR’s league table tracks the size of different economies around the globe and projects changes over the next decade. In 2013, the US and China were the largest economies, with Japan and Germany next. France came in fifth, while the UK was just behind.
One of the most startling findings from the latest analysis is the gradual erosion of Germany’s position as Europe’s locomotive nation. ‘Germany slides back, held back by a declining population and the likely weakness of the euro.
In 2030 Germany, which was the world’s third largest economy, is overtaken by the UK for the first time since 1954 to drop to seventh place in the league,’ notes CEBR’s chief executive Douglas McWilliams.
Onwards and upwards: Britain is on course to overtake Germany by 2030 to become Europe's biggest economy for the first time since 1954. Germany's population is shrinking, whereas Britain's rapidly growing population has been growing at twice the rate of the rest of Europe for the last decade
The changing shape of Europe’s pecking order demonstrates how wise it was for Britain to stay out of the eurozone following the wide-ranging study by then anti-euro Chancellor Gordon Brown (left) in 2003 when he was under pressure from pro-European forces led by Tony Blair (right)
The changing shape of Europe’s pecking order demonstrates how wise it was for Britain to stay out of the eurozone following the wide-ranging study by then Chancellor Gordon Brown in 2003 when he was under pressure from pro-European forces led by Tony Blair.
Russia, which has been under enormous pressure from Western sanctions over Ukraine, the falling oil price and the tumbling rouble, looks set to remain a second-rate economic power.
It has now slipped from eighth to tenth place in the global league and it will remain there in 2030 despite the country’s enormous wealth of natural resources. The CEBR’s World Economic League Table also finds that emerging economies are set to grow even more quickly than expected.
Socialist France now has a smaller economy than Britain, having fallen from being the world's fifth largest to world's sixth largest economy in 2014. This is a major embarrassment for Britain's Labour Party, whose leader, Ed Miliband, praised Hollande when the socialist French president came to power
China is set to overtake the US as the world’s largest economy in 2025 – three years earlier than previously thought. Pictured is US president Barack Obama with Chinese President Xi Jinping last month
India’s ‘unstoppable rise’ will continue, overtaking the UK to become the largest economy in the Commonwealth in 2018. And China is set to overtake the US as the world’s largest economy in 2025 – three years earlier than previously thought.
Mr McWilliams added: ‘The league table brings things back to hard figures. Countries who have invaded neighbouring countries and whose leaders spout aggressively nationalistic rhetoric are brought down to earth by their falls in the league table as their economies collapse.
‘It also shows the dramatic changes now taking place in the world’s economic geography, with slow-growing European economies falling back and Asian economies catching up.’
A Treasury spokesman said: ‘The news from the Centre for Economic and Business Research that the UK is moving up the world economic league table shows that the British people’s hard work this year is paying off and that the economic plan is working.
‘But the Government is the first to say the job is not done, so we need to carry on working through our economic plan that is securing a resilient economy and a better future.’
WORLD'S BIGGEST ECONOMIES, 2030
1) China
2) US
3) India
4) Japan
5) Brazil
6) Britain
Read more: Booming UK 'will overtake German economy by 2030' | Daily Mail Online
Follow us: @MailOnline on Twitter | DailyMail on Facebook
The promising forecast will be an embarrassment to Labour leader Ed Miliband, who is still haunted by his praise for French president Francois Hollande, now leading a faltering economy with record levels of unemployment.
And the analysis also claims that within the next two decades, Germany, held back by a declining population and the weakness of the euro, could be overtaken by the UK, for the first time since 1954. The UK's population is growing twice as fast as the rest of Europe and has had Europe's fastest-growing population for the last decade.
Germany currently has Europe's largest economy and the world's fourth-largest but, by 2030, it will be merely the seventh largest economy on the planet, behind the UK, with France in eighth.
The projections, in the World Economic League Table by the influential City think-tank the Centre for Economic and Business Research, will make encouraging reading for Mr Osborne.
They demonstrate that even though the most recent data shows growth was not quite as robust as at first thought in 2014, the UK’s total output overtook France’s.
However, in 2018 the UK will move back down to sixth when India overtakes it to become the Commonwealth's largest economy.
Brazil will push the UK down to seventh but, by 2030, the UK will climb back up to sixth by overtaking Germany.
And the US's reign as Earth's biggest economy is set to come to an end by 2025 when it is overtaken by China.
Russia looks set to remain a second-rate economic power. It has now slipped from eighth to tenth place in the global league, pushing Canada down to eleventh.
Booming UK 'will overtake German economy by 2030'... and we've already surged past socialist France in global league table
Analysis suggests UK became the world's fifth largest economy in 2014
Germany could be overtaken by the UK for first time since 1954
Projections made by the Centre for Economic and Business Research
British figures aided by ONS including drug and sex trade earnings
India will become the largest economy in the Commonwealth in 2018
China set to overtake the US as the world’s largest economy in 2025
By Alex Brummer and Daniel Martin for the Daily Mail
26 December 2014
Daily Mail
In a significant boost to Chancellor George Osborne, forecasters have claimed the British economy will be larger than Germany's by 2030
The British economy will be larger than Germany’s by 2030, forecasters have claimed.
In a significant boost to Chancellor George Osborne, analysis also suggests that the UK overtook France in 2014 to become the world’s fifth largest economy.
The promising forecast will be an embarrassment to Labour leader Ed Miliband, who is still haunted by his praise for French president Francois Hollande, now leading a faltering economy with record levels of unemployment.
And the analysis also claims that within the next two decades, Germany, held back by a declining population and the weakness of the euro, could be overtaken by the UK for the first time since 1954. The UK's population is growing twice as fast as the rest of Europe and has had Europe's fastest-growing population for the last decade.
The projections, in the World Economic League Table by the influential City think-tank the Centre for Economic and Business Research, will make encouraging reading for Mr Osborne.
They demonstrate that even though the most recent data shows growth was not quite as robust as at first thought in 2014, the UK’s total output overtook France’s.
The growth in Britain’s national accounts was aided by the decision of the Office for National Statistics to include earnings from the previously uncharted economy of drugs and the sex trade. The French figures do not yet include these industries.
CEBR’s league table tracks the size of different economies around the globe and projects changes over the next decade. In 2013, the US and China were the largest economies, with Japan and Germany next. France came in fifth, while the UK was just behind.
One of the most startling findings from the latest analysis is the gradual erosion of Germany’s position as Europe’s locomotive nation. ‘Germany slides back, held back by a declining population and the likely weakness of the euro.
In 2030 Germany, which was the world’s third largest economy, is overtaken by the UK for the first time since 1954 to drop to seventh place in the league,’ notes CEBR’s chief executive Douglas McWilliams.
Onwards and upwards: Britain is on course to overtake Germany by 2030 to become Europe's biggest economy for the first time since 1954. Germany's population is shrinking, whereas Britain's rapidly growing population has been growing at twice the rate of the rest of Europe for the last decade
The changing shape of Europe’s pecking order demonstrates how wise it was for Britain to stay out of the eurozone following the wide-ranging study by then anti-euro Chancellor Gordon Brown (left) in 2003 when he was under pressure from pro-European forces led by Tony Blair (right)
The changing shape of Europe’s pecking order demonstrates how wise it was for Britain to stay out of the eurozone following the wide-ranging study by then Chancellor Gordon Brown in 2003 when he was under pressure from pro-European forces led by Tony Blair.
Russia, which has been under enormous pressure from Western sanctions over Ukraine, the falling oil price and the tumbling rouble, looks set to remain a second-rate economic power.
It has now slipped from eighth to tenth place in the global league and it will remain there in 2030 despite the country’s enormous wealth of natural resources. The CEBR’s World Economic League Table also finds that emerging economies are set to grow even more quickly than expected.
Socialist France now has a smaller economy than Britain, having fallen from being the world's fifth largest to world's sixth largest economy in 2014. This is a major embarrassment for Britain's Labour Party, whose leader, Ed Miliband, praised Hollande when the socialist French president came to power
China is set to overtake the US as the world’s largest economy in 2025 – three years earlier than previously thought. Pictured is US president Barack Obama with Chinese President Xi Jinping last month
India’s ‘unstoppable rise’ will continue, overtaking the UK to become the largest economy in the Commonwealth in 2018. And China is set to overtake the US as the world’s largest economy in 2025 – three years earlier than previously thought.
Mr McWilliams added: ‘The league table brings things back to hard figures. Countries who have invaded neighbouring countries and whose leaders spout aggressively nationalistic rhetoric are brought down to earth by their falls in the league table as their economies collapse.
‘It also shows the dramatic changes now taking place in the world’s economic geography, with slow-growing European economies falling back and Asian economies catching up.’
A Treasury spokesman said: ‘The news from the Centre for Economic and Business Research that the UK is moving up the world economic league table shows that the British people’s hard work this year is paying off and that the economic plan is working.
‘But the Government is the first to say the job is not done, so we need to carry on working through our economic plan that is securing a resilient economy and a better future.’
WORLD'S BIGGEST ECONOMIES, 2030
1) China
2) US
3) India
4) Japan
5) Brazil
6) Britain
Read more: Booming UK 'will overtake German economy by 2030' | Daily Mail Online
Follow us: @MailOnline on Twitter | DailyMail on Facebook
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