Chamber News

BT Economic Impact in the East of England: new report published £2.7BN GVA in East of England

BT Economic Impact in the East of England: new report published £2.7BN GVA in East of England

The Economic Impact Report 2018 has been prepared independently by Hatch Regeneris, drawing upon data for BT Group. Estimates in this report relate to BT Group plc activities in the UK during the financial year 2017/18. BT Group plc includes all wholly owned subsidiaries, including Openreach Limited and EE (now part of BT Consumer) In the last financial year BT Group also paid £1.1bn in taxes and were the 5th highest tax contributor in the UK, thereby making an even greater impact on the UK economy.

The impact of this tax contribution has not been assessed in this report. Further information about BT Group’s activities can be found in the 2018 BT Group plc Annual Report and Delivering our Purpose Report. Impact calculations are in accordance with Government guidelines and the HM Treasury’s Green Book Guidance for appraisal and evaluation, and are consistent with the Office for National Statistics’ national accounts.

Details of our approach are shown in Appendix A. Note that the economic impact figures presented throughout this report are expressed to three significant figures. This means they have been rounded up or down as appropriate and, as a result, may not sum exactly to the totals presented. Economic Impact Report 2018 This study shows
BT Group’s economic contribution to the UK national economy and to regional economies in terms of jobs, output and Gross Value Added (GVA) supported.

The report covers several effects of BT Group’s activities: Direct impact: people employed directly by BT Group (including contractor employees) who receive wages and salaries. Indirect impact: income and employment created with suppliers as a result of BT Group’s spending on goods and services. Induced impact: further income and employment generated as wages created directly and indirectly are spent within the economy.

Article by Suffolk Chamber