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The economy of England is the largest economy of the four countries of the United Kingdom. England's economy is one of the largest and most dynamic in the world, with an average GDP per capita of £34,690. His Majesty's Treasury, led by the Chancellor of the Exchequer, is responsible for developing and executing the government's public finance policy and economic policy. Government involvement is also primarily exercised by the Department for Business and Trade and Department for Science, Innovation and Technology.

The City of London, the financial capital of England, and the United Kingdom as a whole

Regarded as a highly developed social market economy, it has adopted many free market principles, yet maintains an advanced social welfare infrastructure. England is a highly industrialised country. It is an important producer of textiles and chemical products. England is a leader in the high-tech, chemical and pharmaceutical sectors and in key technical industries, particularly aerospace, the arms industry, and the manufacturing side of the software industry. Although automobiles, locomotives, and aircraft are among England's other important industrial products, a significant proportion of the country's income comes from the City of London and its financial hub, banking, insurance, investment management and other related financial services. The UK technology sector is valued at US$1 trillion, third behind the United States and China, mostly based in England. (Full article...)