Earlyface

The UK will be
in a position to
overtake
Germany as
Europe’s
largest
economy,
according to
the think tank
the Centre for Economic and Business Research
(CEBR).
The CEBR predicts that Germany will lose its current
top spot in Europe by 2030.
It cites the UK’s population growth as an aid to
economic acceleration.
The report echoes the recent confidence of other
business groups such as the British Chambers of
Commerce (BCC).
Earlier this month the BCC said that the UK economy
will surpass its pre-recession peak in 2014.
In its annual World Economic League Table, where it
ranks the ups and downs of global economies, and
forecasts their future position, the CEBR said in
addition that China will overtake the US in 2028,
which is later than some analysts have suggested.
The UK will overall perform second best of all
advanced economies, the CEBR said.
Yet, this performance will still lag behind growth in
emerging countries such India and Brazil.
The CEBR in its report added that in addition to the
UK’s population growth boosting economic
expansion, that “lesser dependence on other
European economies” would also aid progress, as
well as “relatively low taxes by European
standards.”
However, as far as Germany, the group said that
should the euro “break up”, that “Germany’s outlook
would be much better.”
As for France, The CEBR said it will be one of the
“worst performing” of the Western economies, and
will be overtaken by the UK by 2018. This is because
of slow growth due to “high taxation” in addition to
the general issues of eurozone economies.