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Accounting for drugs and prostitution to help push UK economy up by £65bn
Britain's economy could be as much as £65bn bigger – almost 5% – when new GDP figures are published in September incorporating items such as prostitution and drug dealing under new statistical rules. The Office for National Statistics said its latest estimate was that GDP in 2009 was 4.6% higher than previously stated on the back of the planned improvements in measuring the size of the economy. The update will be part of a more inclusive approach to GDP that comes into force in September to comply with EU statistical rules and to "provide the best possible framework for analysing the UK economy and ... (full story)
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