YouK & The UK Economy

YouK is the world’s first national consumer products web app, containing approximately 95%+ of everything made in the UK. We know it’s important to ‘buy local’ goods, but why is this? In short, it supports the local economy and the wider UK economy.

When goods are produced locally, jobs are created within our communities. Local employees spend money within the local economy; buying from local businesses provides a huge boost for your local community, the money you spend circulates locally, supporting other local businesses and boosting prosperity.

Moreover, local employees pay local taxes which fund public services, including the NHS, emergency services, schools, public transport, welfare and pensions.

Total UK public income in 2019 was £775 billion (that’s £775,000,000,000!). Of this, 58% (£450 billion) will be directly related to jobs through income tax (33%), National Insurance (18%) and business taxes (7%). The remaining 42% (£325 billion) will be collected in indirect taxes such as VAT.

As demand for UK-made products grows, so will the number of jobs, resulting in more money for our public services. 

Read more articles related to ‘YouK and the Economy’ in our Economy category.