MEMBER NEWS
BT Group contributes billions to local economy
Chamber member BT Group is responsible for generating £1 in every £115 produced in the Midlands’ economy, according to an independent report published recently. The Economic Impact of BT
Group plc in the UK report, by Hatch Regeneris, shows that the communications company generated a near £2bn (£1,963m) contribution – expressed as “Gross Value Added” (GVA) – to the Midlands economy during the 2017/18 financial year. The report estimates that the
equivalent of 24,900 full-time jobs in the Midlands are supported through BT’s direct employment, its spending with contractors and suppliers and the spending of its employees. BT Group directly employs 11,090
people in the Midlands. It’s estimated that BT Group supports one in every 130 employees working in the Midlands’ private sector, reinforcing its position as one of the region’s leading employers.
‘BT Group is almost unique in contributing to the economies of virtually every community across the UK’
The Group also spent nearly
£431m with suppliers based in the Midlands. Across the UK, BT Group directly
employed 94,800 people (FTE) and supported an estimated total of 290,000 full-time jobs. It also generated, in total, almost £23bn (£22.8bn) to the UK economy. Tim Fanning, Director at Hatch
Regeneris, said: “Our analysis underlines how vast BT Group’s contribution is to the UK economy, particularly across the nations and regions. “BT Group is almost unique in
contributing to the economies of virtually every community across the UK, supporting significant levels of GVA spend and employment opportunities per region.” The report from Hatch Regeneris comes in addition to a recent
report by Chamber member PwC which highlighted that BT Group is the fifth-highest tax contributor in the UK among FTSE 100 companies, and the highest contributor among non-financial companies. The PwC report also identified BT as the largest capital expenditure investor in the UK. Giles Ellerton, Regional Director,
BT Group, Midlands and East Anglia, said: “Few companies play as important a role in the Midlands as BT Group. Not only does BT connect friends, families and businesses across the UK, but we also put premium fuel in the tank of the nation’s economy. The report shows that BT generates £1 in every £115 of wealth in the Midlands. “We’re proud to be one of the
region’s largest private sector employers and investors. Our investments, including the latest 5G
Giles Ellerton
mobile technology through our mobile network EE, will ensure the UK continues to be one of the world’s best-connected economies. Birmingham and Coventry will be one of the first cities to enjoy 5G in the UK in 2019, in the run up to the Commonwealth Games and Capital City of Culture. “With 11,090 people directly
employed in the region, spending their salaries in local businesses, as well as regularly volunteering on activities such as our Barefoot tech literacy programme in schools, our people are at the heart of nearly every community.”
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business network March 2019 7
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