UK shows Europe the way to go in wealth creation - by Gabriel Rozenberg
BRITAIN has topped the European league table for wealth creation, with its leading companies generating more value and doing so more efficiently than their continental rivals, a study shows today.A report from the Department of Trade and Industry reveals that European value added — defined as the money a business generates when its costs are deducted from its sales — is concentrated in the UK, France and Germany, with Britain in the lead.Among the 700 major companies across Europe surveyed by the DTI, those based in Britain generated 25.9 per cent of value added, up from 24.2 per cent last year, implying that UK firms are increasingly profitable.
Both France and Germany have seen their share of value added decline in the past year: France’s share fell to 20 per cent from 20.7 per cent, while major firms in Germany, Europe’s biggest economy, created just 18.5 per cent of new wealth compared with 19.3 per cent the previous year.
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