Gross Value Added, Total Household Income and Gross Disposable Household Income, London
London had the highest Gross Disposable Household Income per head in the United Kingdom in 1999, 20 per cent higher than the UK average. GDHI differs considerably between regions; total income even more so. The difference between total incomes and disposable incomes reflects the redistributive effects of taxes and benefits on incomes.
Gross Value Added (GVA) per head on a workplace basis in Inner London is the highest not only in the United Kingdom but also in the European Union.
Gross Value Added (GVA) per head for London as a whole on a residence basis was £17,000 in 1999, compared with under £13,000 for the United Kingdom.
The new business registration rate in London during 2001, at 12.6 per cent, was the lowest level seen in the last twenty years. Overall, there were an estimated 674,280 businesses in London at the start of 2001, and 255,000 businesses registered for VAT in London in 2002.
Over three and half per cent of VAT registered businesses had an annual turnover of £5 million or more. Over 40 per cent of businesses registered for VAT in London were within business, financial and real estate services compared with less than 28 per cent nationally.
Estimates of regional GVA in the figure are on a residence basis, where the income of commuters is allocated to where they live rather than their place of work
Source: Office for National Statistics; Eurostat; Inter-Departmental Business Register, Office for National Statistics
printer-friendly
Focus On London home