November 09 ,2016 | by Hari Sri

BT boosts UK economy by £23 billion, says report

BT boosts UK economy

BT has boosted the UK economy by £23 billion in the last year, according to a report by Regeneris Consulting.

The report, which is titled The Economic Impact of BT and EE in the UK, showed the contributions that BT and EE, which BT has taken over, have made to the economy across England, Scotland, Wales and Northern Ireland in the financial year 2015/2016.

Employment

The report found that BT and EE have supported 259,000 UK jobs through direct employment, with over 80,000 employees working for them.

Over £9 billion was spent with UK-based suppliers, whilst the total income of BT and EE employees came to £3.2 billion.

The overall economic impact of these two companies throughout the UK, which is known as Gross Value Added (GVA), was also revealed in the report.

London was found to have accounted for £6,060 million of the UK’s total GVA, while Wales accounted for £770 million, Scotland for £1,080 million and Northern Ireland for £470 million. The rest was spread between the regions of England.

Access

BT Chief Executive, Gavin Patterson, commented: “Few organisations have a more positive and direct impact on the UK economy and its many communities than BT.”

He added that BT’s acquisition of EE means that the company can invest even further, which will enable people living and working in the UK to get access to the best communications, such as fixed line, mobile and broadband services, now and in the future.

Hari Sri

Hari is the LSBF Blog's News Editor. He manages the editorial content on the blog and writes about current affairs, SME, entrepreneurship, energy, education and emerging market news.

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