Economy
The economy of England is the largest part of the UK's economy,[132] which has the 18th highest GDP PPP per capita in the world. England is a leader in the chemical[135] and pharmaceutical sectors and in key technical industries, particularly aerospace, the arms industry, and the manufacturing side of the software industry. London, home to the London Stock Exchange, the United Kingdom's main stock exchange and the largest in Europe, is England's financial centre—100 of Europe's 500 largest corporations are based in London.[136] London is the largest financial centre in Europe, and as of 2009 is also the largest in the world.[137]The Bank of England, founded in 1694 by Scottish banker William Paterson, is the United Kingdom's central bank. Originally established as private banker to the Government of England, since 1946 it has been a state-owned institution.[138] The Bank has a monopoly on the issue of banknotes in England and Wales, although not in other parts of the United Kingdom. The government has devolved responsibility to the Bank's Monetary Policy Committee for managing the monetary policy of the country and setting interest rates.[139]England is highly industrialised, but since the 1970s there has been a decline in traditional heavy and manufacturing industries, and an increasing emphasis on a more service industry oriented economy.[83] Tourism has become a significant industry, attracting millions of visitors to England each year. The export part of the economy is dominated by pharmaceuticals, cars—although many English marques are now foreign-owned, such as Rolls-Royce, Lotus, Jaguar and Bentley—crude oil and petroleum from the English parts of North Sea oil along with Wytch Farm, aircraft engines and alcoholic beverages.[140] Agriculture is intensive and highly mechanised, producing 60% of food needs with only 2% of the labour force.[141] Two thirds of production is devoted to livestock, the other to arable crops.[142]
Demography Population
With over 51 million inhabitants, England is by far the most populous country of the United Kingdom, accounting for 84% of the combined total.[163] England taken as a unit and measured against international states has the fourth largest population in the European Union and would be the 25th largest country by population in the world.[164] With a density of 395 people per square kilometre, it would be the second most densely populated country in the European Union after Malta.[165][166]
The English people are a British people.[3] Some genetic evidence suggests that 75–95% descend in the paternal line from prehistoric settlers who originally came from theIberian Peninsula, as well as a 5% contribution from Angles and Saxons, and a significant Norse element.[167][168][169] However, other geneticists place the Norse-Germanicestimate up to half.[170][171][172] Over time, various cultures have been influential: Prehistoric, Brythonic,[173] Roman, Anglo-Saxon,[174] Norse Viking,[175] Gaelic cultures, as well as a large influence from Normans. There is an English diaspora in former parts of the British Empire; especially the United States, Canada, Australia, Chile, South Africa and New Zealand.[nb 6] Since the late 1990s, many English people have migrated to Spain.[180][181]
At the time of the Domesday Book, compiled in 1086, more than 90% of the English population of about two million lived in the countryside.[183] By 1801 the population had grown to 8.3 million, and by 1901 had grown to 30.5 million.[184] Due in particular to the economic prosperity of South East England, it has received many economic migrants from the other parts of the United Kingdom.[3] There has been significant Irish migration.[185] The proportion of ethnically European residents totals at 87.50%, including Germans[186] and Poles.[3]
Other people from much further afield in the former British colonies have arrived since the 1950s: in particular, 6% of people living in England have family origins in the Indian subcontinent, mostly India and Pakistan.[3][186] 2.90% of the population are black, from both the Caribbean and countries in Africa itself, especially former British colonies.[3][186] There is a significant number of Chinese and British Chinese.[3][186] As of 2007, 22% of primary school children in England were from ethnic minority families.[187] About half of the population increase between 1991 and 2001 was due to immigration.[188] Debate over immigration is politically prominent;[189] according to a Home Office poll, 80% of people want to cap it.[190] The ONS has projected that the population will grow by six million between 2004 and 2029.[191]