Go to the Globe and Mail homepage

Jump to main navigationJump to main content


Sex and drugs and accounting in the U.K. Add to ...

Subscribers Only

No one knew or probably cared then but as Britain plunged into recession in 2009, shedding jobs and piling up bankruptcies, the nation continued to entertain itself behind closed doors, spending £10-billion ($18.1-billion) on illegal drugs and prostitutes. The figure is arrived at using economic modelling but it comes from a very reputable source, the Office of National Statistics. Britain’s ONS is engaged in a bout of self-improvement, tweaking the way it measures economic activity, and the latest series of reforms to the way it adds up the numbers concludes that five years ago the British economy was £33-billion larger than we believed and almost a third of that missing slice of cake was hidden for a reason.

Report Typo/Error

Follow us on Twitter: @GlobeBusiness

Next story




Most popular videos »

More from The Globe and Mail

Most popular