The University of Sheffield
Management School

Management School News

UK’s shadow economy is booming


A study by a free-market thinktank, the Institute for Economic Affairs, estimates that paid work not declared to the taxman was worth 10% of national income in 2012, half the level in Italy, Greece and Spain.

The report published on Tuesday 4 June by economists Professor Colin Williams  (Sheffield University Management School) and Friedrich Schneider found that the UK’s shadow economy was smaller than the 13.4% average for the 34 developed nations in the Organisation for Economic Cooperation and Development.   The report has generated a great deal of media interest.  Find out more at:
Or listen to the BBC podcast at:

Comments are closed.