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28/10/2015
UK Ranked 6th Best For 'Ease Of Doing Business'
The UK has been ranked sixth in the world for doing business, ahead of the US, Germany and Japan.
The ranking was revealed in the World Bank Ease of Doing Business report, which ranked 189 countries.
Welcoming the new ranking, which sees the UK rise from 8th to 6th, Business Secretary Sajid Javid said: "The UK has once again climbed up the rankings and is one of the top places in the world to do business, getting closer to the government's target of reaching the top 5. This is international recognition of the UK's strong and stable business environment, competitiveness and entrepreneurial spirit. Our economy is now growing faster than any other nation.
"The government is taking steps to ensure that every part of Britain benefits from the growing economy and that everyone who works hard gets the opportunities they need to succeed."
Government action to improve the ease of doing business includes:
• commitment to cut £10 billion of red tape in order to back British business and put resources to more productive use
• cutting tax - at 20%, the UK already has the joint lowest corporate tax rate in the , but it will be cut further to 18% in 2020, making it the lowest in the
• boosting skills and productivity by raising the quantity and quality of apprenticeships in England to 3 million starts by 2020
• investing £6.9 billion in UK research infrastructure up to 2021 – improving knowledge, expertise and productivity
• building stronger trading links with emerging markets, especially China, India and Brazil; and delivering a Europe that is more dynamic and outward focussed as part of our renegotiation
(MH/CD)
The ranking was revealed in the World Bank Ease of Doing Business report, which ranked 189 countries.
Welcoming the new ranking, which sees the UK rise from 8th to 6th, Business Secretary Sajid Javid said: "The UK has once again climbed up the rankings and is one of the top places in the world to do business, getting closer to the government's target of reaching the top 5. This is international recognition of the UK's strong and stable business environment, competitiveness and entrepreneurial spirit. Our economy is now growing faster than any other nation.
"The government is taking steps to ensure that every part of Britain benefits from the growing economy and that everyone who works hard gets the opportunities they need to succeed."
Government action to improve the ease of doing business includes:
• commitment to cut £10 billion of red tape in order to back British business and put resources to more productive use
• cutting tax - at 20%, the UK already has the joint lowest corporate tax rate in the , but it will be cut further to 18% in 2020, making it the lowest in the
• boosting skills and productivity by raising the quantity and quality of apprenticeships in England to 3 million starts by 2020
• investing £6.9 billion in UK research infrastructure up to 2021 – improving knowledge, expertise and productivity
• building stronger trading links with emerging markets, especially China, India and Brazil; and delivering a Europe that is more dynamic and outward focussed as part of our renegotiation
(MH/CD)
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
