Despite its size, the UK does face some key risks that merit careful consideration. For instance, its economy is highly dependent on consumers and therefore can be deeply affected by changes to consumer credit or commodity prices.

CYBER CRIME
UK Government announce £4 million of funding to counter
cyber security threats at first ever US-UK cyber innovation summit.

£6.8 billion cost to economy in 2013
800 million people affected in 2013
£800 million of loss caused in one single attack during 2012

“The growth of the cyber security sector in the UK is a great success story, worth over £6 billion and employing around 40,000 people”

economic costs of unemployment
The issue
Long-term unemployment is damaging to individuals and communities, it affects mental and physical health, and holds back economic growth. We want to help people into work and make sure that work pays. In return, people on out-of-work benefits need to take the opportunities available to them to move off benefits and into work. Out of work older people can find it more difficult to get a job and they are more likely than younger people to remain unemployed for longer.

economic costs of unemployment
Most economists agree that high levels of unemployment are costly not only to the individuals and families directly affected, but also to local and regional economies and the economy as a whole. We can make a distinction between the economic costs arising from people out of work and the social costs that often result. Fiscal costs to the government

impact on government expenditure, taxation and the level of government borrowing each year higher benefit payments and lower tax revenues. When individuals are unemployed, not only do they receive benefits but also pay no income tax.  As they are spending less they contribute less to the government in indirect taxes.  This rise in government spending along with the fall in tax revenues may resu...

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