into 5-year age groups represented as horizontal bars along the vertical axis, with the youngest age groups at the bottom and the oldest at the top. For additional information, please see the entry for Population pyramid on the Definitions and Notes page under the References tab. In 2008, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. The UK has an extensive trade relationship with other EU members through its single market membership, and economic observers have warned the exit will jeopardize its position as the central location for European financial services.
However, the deficit still remains one of the highest in the G7, standing.6 of GDP as of 2017, and the UK has pledged to lower its corporation tax from 20 to 17 by 2020. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. The population is distributed along the horizontal axis, with males shown on the left and females on the right. Manufacturing, meanwhile, has declined in importance but still accounts for about 10 of economic output. Prime Minister MAY is seeking a new deep and special trade relationship with the EU following the UKs exit. Helens, Stockport, Sunderland, Tameside, Trafford, Wakefield, Walsall, Wigan, Wirral, Wolverhampton unitary authorities: Bath and North East Somerset, Blackburn with Darwen, Bedford, Blackpool, Bournemouth, Bracknell Forest, Brighton and Hove, City of Bristol, Central Bedfordshire, Cheshire East, Cheshire West and Chester, Cornwall, Darlington, Derby, Durham County East. Total dependency ratio:.5 youth dependency ratio:.4 elderly dependency ratio:.2 potential support ratio:.5 (2015 est.) total:.5 years male:.3 years female:.7 years (2017 est.) country comparison to the world:.52 (2017 est.) country comparison to the world: 154.1. However, economists doubt that the UK will be able to preserve the benefits of EU membership without the obligations. Facing burgeoning public deficits and debt levels, in 2010 the then cameron-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which has continued under the Conservative government. The shape of the population pyramid gradually evolves over time based on fertility, mortality, and international migration trends. Falling home prices, high consumer debt, and the global economic slowdown compounded the UKs economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then brown (Labour) government to implement a number of measures to stimulate the economy and.