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UK firms add 646bn 'value'

10/06/2008

The biggest UK companies added £646 billion in 'value' and topped a European-wide value added scoreboard.

The Department for Innovation, Universities and Skills (DIUS) has claimed the top 185 UK firms were more efficient than their European competitors.

Minister for science and innovation, Ian Pearson, said: "The UK continues to be one of the best places in the world to do business."

The DIUS measured the amount of 'value added' wealth created to reflect "the ability of companies to provide their customers with what they want and are prepared to pay for".

Its scoreboard revealed the value added by 800 firms in the UK has increased by 9.6 per cent in the last 12 months.

It also discovered almost 23 per cent of all European value added came from UK companies, more than any other country.

The London Stock Exchange is more than 300 years old and originated from the capital's coffee houses in the 17th century.

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