Posted: Wed 4th Nov 2015

BT generated £575 million for the Welsh economy in the past year

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Wednesday, Nov 4th, 2015

BT generated a massive £575 million for the Welsh economy in the past year – a £35 million increase on just two years ago, according to an independent report published today. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The report, by Regeneris Consulting, also shows that the communications company supports 7,520 jobs in Wales through direct employment, its spending with contractors and suppliers and the spending of employees. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

In employment terms, BT’s impact in 2014-15 was larger than the country’s creative and media sector. Around £213 million was spent with local suppliers. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The overall beneficial financial impact of BT activities is expressed as a “Gross Value Added” (GVA)* contribution. For Wales the BT GVA totalled £575million – equivalent to £1 in every £90 of the total GVA for Wales. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Tim Fanning, associate director at Regeneris Consulting, said: ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

“Our analysis confirms the sheer scale and reach of BT’s ongoing economic contribution to Wales and the UK as a whole. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

“BT makes a contribution to every community across the UK. At the UK level, £1 in £80 of wealth created is attributable to BT – this is one of the single largest contributions to the UK economy by any firm.” ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Alwen Williams, BT’s regional director for Wales, said: ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

“There are few organisations in Wales that have a larger impact on the day-to-day life and future prospects of the country than BT. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

“We are one of the largest private sector employers and investors in Wales – our investment in fibre broadband in Wales alone amounts to hundreds of millions of pounds – and the services that we provide are a vital part of every community. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

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