A 52% majority of British people think both the black and grey markets are bad for the UK economy, with drugs seen as making up the greatest share
According to a new report of the Bank of England half of bank notes in circulation are from the black market or overseas. The report points out that much is held for travel money overseas or used illegally in the ‘shadow economy’.
New YouGov Daily research shows that just under one in five think the ‘grey market’ (not illegal but not authorised either) is actually good, while slightly under one in ten think both the grey and black markets are good. One fifth of the panel says it is ‘not sure’ when it comes to opinion of such markets.
The overwhelming majority says drugs are at the centre for illegal cash flow in the economy. From second to fifth place come alcohol and tobacco, prostitution, moonlighting and racketeering. A report from the Office for National Statistics (ONS) from May last year suggested spending on illegal drugs and prostitution boosted the UK economy by an estimated £10 billion.
Although people today are less likely to use cash for transactions than they were in the past, demand for banknotes is increasing. “Cash is not likely to die out any time soon”, said the Bank of England report.
Only 4% believe Labour will win the 2020 election
Finally, the panel was not so supportive of Jeremy Corbyn’s claim that Labour can win the 2020 election with a “vision of a better society”. True to his reputation as the outsider, only 4% said they believed Labour is likely to win. Another 25% say Labour have ‘a decent chance” for a win. On the other hand, 34% are adamant Labour have no chance in 2020. A more detail YouGov poll for The Times also showed most people think Corbyn is unlikely to win the next general election.