UK GDP is about £2.2 trillion. A basis point is defined as: 1bp is 0.0001 = 1/100th of 1%.
1. So a basis point of GDP, 0.01% of GDP, is 2,200*10^9 * 1*10^-4=£220m. That's about half the cost of a medium size hospital.
2. Ten basis points, 0.1% of GDP is therefore £2.2billion.
