The UK retains its postion in the World Bank’s 2014 Economy Rankings

Economy Ranking 2014At the end of October The World Bank released its 2014 Economy Rankings, which measure the ease of doing business in 189 countries.

Having slipped from 6th place in the Doing Business rankings in 2011, and to 7th place in 2012, and then to 10th place in 2013, in 2014 the UK retains its position at number 10. 

In the Daily Telegraph Louise Armistead observes,

“The Government will be disappointed by the view that starting a business is relatively hard in the UK. Last year the UK was ranked 19th on this measure, taking 13 days to complete. This year the survey found it only takes 12 days to start a company but the UK has fallen down the rankings to 28th. In Afghanistan it takes just five days to start a company.

Britain has improved its competitiveness on business taxes with the proportion of profit taken by the state falling from 37.3pc to 34pc but the cost of electricity has soared from 72.3pc of income per capita to 91.9pc.”

So, we’ve still work to do to hold our place at number 10. It is some comfort that the UK is well ahead of Germany, ranked 22nd overall; Japan ranked 27th; France ranked 38th, and Italy at 65th. With the UK’s territorial entanglements with Spain and Argentina, it’s also worth noting that they rank 52nd and 126th respectively.

It still amazes at how lowly we are ranked in getting connected to electricity, 74th, and that this has worsened in the last year by 10 points. looking at the detail it takes 126 days to get a connection. Bad, Bad, Bad.

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