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The UK Balance Sheet
Author(s) -
DICKS GEOFFREY,
ROBERTS MELANIE
Publication year - 1987
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/j.1468-0319.1987.tb00656.x
Subject(s) - balance sheet , revenue , dividend , creditor , earnings , equity (law) , business , profit (economics) , economics , finance , retained earnings , debt , political science , law , microeconomics
With net overseas assets of well over $100bn the UK is now the world's second largest creditor nation after Japan. This has come about because the UK current account benefited from large‐scale oil revenues from 1980 onwards, which produced a series of current surpluses. Fortunately the funds were invested overseas at a time of significant recovery in world equity markets. As a result of the increase in its external assets, the UK now receives £5bn p.a. or more from interest, profit and dividend earnings on these assets ‐ a valuable cushion to the run‐down in oil revenues.