UK to include illegal drugs and prostitution in official estimates of economy
LONDON - Sex please â€” we're British.
Britain's Office of National Statistics says prostitution and the import, manufacture and consumption of illegal drugs should be counted when making the government's quarterly calculations of gross domestic product.
The UK statistics agency says some of these activities are legal in certain European Union countries, and comparable figures are needed. At the moment, the only illegal activities included in GDP are estimates on alcohol and tobacco smuggling.
The ONS said Friday that the new estimates would add approximately 10 billion pounds ($16.7 billion) to the level of GDP in 2009.
ONS Chief Economic Adviser Joe Grice says that as economies develop and evolve, "so do the statistics we use to measure them."
Read more Business News
- Man killed by horned cowVernon / N. Okanagan - 5:00 pm
- Industrial zone floodedKelowna - 4:45 pm
- Orchardists busy after rainfallPenticton / S. Okanagan - 6:00 pm
- Smith Creek: fully containedWest Kelowna - 11:07 am
|QHR Technologies Inc||1.17||+0.02|
|Anavex Life Sciences||0.28||-0.045|
|Copper Mountain Mining||2.82||+0.06|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.19||+0.01|
The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...
The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...
Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...