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Trillion is a number with two distinct definitions: 1,000,000,000,000 , i.e. one million million , or 10 12 (ten to the twelfth power ), as defined on the short scale . This is now the meaning in both American and British English.
The pharmaceutical industry employs around 67,000 people in the UK and in 2007 contributed £8.4 billion to the UK's GDP and invested a total of £3.9 billion in research and development. [ 113 ] [ 114 ] In 2007 exports of pharmaceutical products from the UK totalled £14.6 billion, creating a trade surplus in pharmaceutical products of £4.3 ...
During the COVID-19 pandemic, national debt reached £2.004 trillion for the first time due to government spending on virus measures, such as the Coronavirus Job Retention Scheme ("furlough scheme"). [22] The national debt stood at £1.786 trillion at the calendar year end 2018, or 85.2% of GDP; as published by the Office for National ...
The BoE's maneuvering after the mini budget was announced may have prevented $1 trillion from being lost in UK pension funds' investments.
The UK economic fiasco under Truss was due to a radical economic proposal of tax cuts and borrowing–which triggered market turmoil in Britain, causing the value of the pound to plummet and Truss ...
Traditional British usage assigned new names for each power of one million (the long scale): 1,000,000 = 1 million; 1,000,000 2 = 1 billion; 1,000,000 3 = 1 trillion; and so on. It was adapted from French usage, and is similar to the system that was documented or invented by Chuquet .
At the same time, household debt rose from £420 billion in 1994 to £1 trillion in 2004 and £1.46 trillion in 2008 – more than the entire GDP of the UK. [ 84 ] This extended period of growth ended in Q2 of 2008 when the United Kingdom entered the Great Recession brought about by the 2007–2008 financial crisis .
A cheaper pound means that it is cheaper for people around the world to buy British goods and services. Weakness in the pound also makes the UK an attractive place for international investment ...