Sex and drugs worth $16.7 billion to UK economy, statisticians say

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They already know what rock’n’roll is worth, so now Britain’s statisticians are getting to grips with sex and drugs in a bid to give a broader view of the size of the economy.The fruit of their research is that sales of illegal drugs and sexual services add around 10 billion pounds ($16.7 billion) to Britain’s economic activity each year, making up just under 1 percent of total economic output.Britain’s Office for National Statistics published the figures on Thursday alongside a detailed account of its methods, as it prepares to move Britain’s public accounts to a new European Union model in September.The changes cover far more than black-market activities, and in total are likely to add around 4 to 5 percent to the level of gross domestic product as new businesses are added to the economy and the contribution of old ones reviewed, the ONS said.Finding accurate estimates of Britons’ consumption of drugs and prostitution has proven the trickiest part of the job.

For full report read ….. http://www.reuters.com/article/2014/05/29/us-britain-stats-drugs-idUSKBN0E91JY20140529

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