UK slips down world competitiveness league

World Economic Form says the UK's weakness include the budget deficit and the quality of its education system

Britain has slipped to 10th in an influential global competitiveness index after being overtaken by Sweden.

The World Economic Forum thinktank, which hosts the gathering of business and political leaders in the Swiss ski resort of Davos each January, said that Britain has slipped one place to rank as the 10th most competitive economy in the world, with Switzerland and Singapore topping the table.