UK plc worth £6.5 trillion, reports ONS

The Times ^ | 7/24/2007 | Gabriel Rozenberg

[bruinbirdman]

Britain is worth £6,525 billion, the Office for National Statistics (ONS) said yesterday as it published the nation’s annual balance sheet.

The £6.5 trillion price tag on the UK covers the value of all buildings, companies, shares and other assets, net of liabilities, at the end of 2006. If the wealth were spread equally, each person in Britain would have more than £108,000 of equity in UK plc.

However, the “shareholders” in Britain have had an unexceptional year, the figures show. Thanks mainly to the property market, the country’s stock of wealth rose by £326 billion, or 5.3 per cent, on the previous year. That was better than a 4.8 per cent rise the previous year, but well below the recent record set in 2002, when national assets grew by 13.9 per cent.

The most valuable asset continues to be housing, with a total value of £3,915 billion – up by 10 per cent on the previous year and equivalent to 60 per cent of total net worth, the data showed. Almost all of this belonged to homeowners and nonprofit organisations. The total net capital stock of the UK – plant and machinery in use – was valued at £2,639 billion in 2006, the ONS said, which it pointed out had risen from only £551 billion in 1948 in current prices, equivalent to a real rate of growth of 2.7 per cent a year.

[Walkingfeather]

For a little perspective last week LA county valued all taxable property in their county at 1 trillion for the first time.

[agere_contra]

That would be a trillion dollars, I guess.

[ran20]

I’m preparing a leveraged buyout of UK plc. I’m going to borrow money from the fed to do it. And try to arbitrage the rate on the bonds versus the divdends from UK plc. Going to do it through a llc too just incase it goes under.