UK Beats US in Living Standards Rich List

08 January 2008

OXFORD, UK: Britons are set to become richer than their US cousins for the first time since the 19th century, according to a report from analysts Oxford Economics.

During 2008, says the consultancy, British GDP per head of population will reach £23,500 ($46.3k; €31.5k) - £250 more than across the Atlantic.

The figures reflect the muscle of the pound against the dollar and the UK's strengthening economy, which has been in growth mode since the mid-1990s. Averaged British incomes are also more than 8% above France (£21.7k) and Germany (£21.6k).

Comments Oxford Economics MD Adrian Cooper: "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."

However, the report concedes Americans benefit from lower prices than those in Britain. They therefore enjoy greater spending power than their UK counterparts - and pay lower taxes.

Data sourced from The Times Online (UK); additional content by WARC staff