black economy

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  • noun

Words related to black economy

a hidden sector of the economy where private cash transactions go unreported

References in periodicals archive ?
Convicted welfare cheats are to face the loss of benefits in a US-style 'two strikes and you're out' system, under new plans published yesterday to crack down on the black economy.
One area which needs a fresh look at by the powers-that-be is the black economy.
Last night Birmingham City Council's social services scrutiny committee chairman, Councillor Douglas McCarrick (Lab Bournville), said while he was concerned about how confidential the phone line would be, he welcomed Mr Brown's tackling of the black economy.
Many people are fed up of those who work the black economy, according to Midland accountants Horwath Clark Whitehill.
Now a confidential phone line will open in May to advise benefit claimants on how they can move from the black economy.
FRAUDBUSTERS will be given sweeping new powers in a bid to stamp out Britain's booming black economy.
The group warns that the existing system forces refused applicants to choose between destitution and a twilight world dominated by prostitution and the black economy.
What seems to have escaped the well-meaning bureaucrats in charge of the system is that, while there is a need for this safety net for the genuinely incapacitated, the unscrupulous and downright dishonest use it as a cover for their work in the black economy, more properly known as fiddling.
However, a new unit has now been set up with the specific aim of targeting traders who use the internet and the wider black economy, such as car boot sales and small markets.
He welcomes illegal immigrants into the country who work in the black economy.
But you can bet a vast number of these illegals are working the black economy therefore contribute nothing to our society.
He said businesses who were part of the black economy were encouraging the ruthless Snakehead gangs who make a fortune smuggling poor Chinese peasants to Liverpool.
They are not to be viewed as independent of society, and therefore it is up to society to decide how to use them for the wider welfare of society,' said Kumar, who is Chair of the Centre for Economic Studies and Planning at Jawaharlal Nehru University and author of The Black Economy in India.
After all, they will be claiming social benefits as well as working in the black economy.
A spokesman for the Inland Revenue whose advertising campaign is fronted by the cartoon inspector Hector said the club raids will be part of a crackdown on Scotland's black economy.