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UK's worth falls by £94bn

Despite being one of the the country’s most valuable assets, civil engineering works posted a £41bn loss as the worth of the UK fell by 1.4%, figures have revealed.

After adding up the value of infrastructure and financial assets, the value of the UK fell by £94bn to £6.67 trillion last year − the second year running a loss was reported, the Office for National Statistics (ONS) said.

Civil engineering works account for 10.9% of the country’s worth, although their value dropped to £725bn in 2009, although remaining one of the UK’s most valuable physical assets.

The housing market, which accounts for 61% of the country’s worth, was up by £126bn to £4.05 trillion over the course of 2009. However, this increase was offset by central government sectors having a negative worth, and a £450bn fall in the value of private businesses.

The drop in the UK’s worth was not as steep as the £303bn loss in 2008, the ONS said.

Readers' comments (2)

  • 61%? Is it not 6.1%

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  • I'm sure the assets of the UK engineering sector will increase in time, as the quality of the firms, projects and infrastructure begin to shine again over the next 18 months.

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