According to the report (using the "Value Added Scoreboard" - which lists the companies making the largest contributions in the UK and in Europe):
- British companies are dominant, making almost as much profit as French and German companies combined
- British companies make more than a third of all European profits
- British corporate profits are also rising faster (12.4% compared with 9.6% in France and 5.4% in Germany)
Source: Click Here
I know the British economy has been performing well for the past 15 years, but are our companies really performing this well? I am sceptical because while the German and French economies may be lagging, they have some very impressive companies which export much more than Britain. Germany is still the world's largest exporter and corporate profits in Germany are meant to be very healthy (just look at LH!). Also France is still one of the world's top 5 exporters (Britain is 7 overall but much higher for services / invisibles). Also I tend to be wary of stats as they can be easily manipulated - for example are these British companies dominant because there is a small group of very large money making corporations such as BP? I ask because according to the the British Chambers of Commerce, a survey of its members shows that 49% of its member firms think it is "much harder" to set up a new business in the UK compared to 1997 (when Blair came to power).
It is great if our companies are doing this well, but I was hoping some experts on a.net may be able to present a much more balanced picture than reports issued by governments!
[Edited 2007-04-16 23:12:55]