Broad ben­e­fit to the cap­i­tal

Re­port shows BT gives Lon­don £6bn boost

Harefield Gazette - - NEWS -

BT has given a £6.06 bil­lion boost to the Lon­don econ­omy in the past year, ac­cord­ing to an in­de­pen­dent study pub­lished on Mon­day last week.

The re­port, by Re­generis Con­sult­ing, high­lights the lo­cal im­pact of BT’s ac­tiv­i­ties in­clud­ing its takeover of EE. It re­vealed BT sup­ported around 60,400 jobs in Lon­don through di­rect em­ploy­ment, spend­ing with con­trac­tors and sup­pli­ers and the spend­ing of em­ploy­ees.

The re­port has been wel­comed by the Con­fed­er­a­tion of Bri­tish In­dus­try (CBI).

Ed­die Cur­zon, CBI’s Lon­don di­rec­tor, said: “This lat­est re­search demon­strates the ex­tent to which BT plays a key role in our lo­cal com­mu­nity.

“There is not a busi­nessper­son or fam­ily in this area who – di­rectly or in­di­rectly – is not af­fected by BT’s ac­tiv­i­ties as a sup­plier of es­sen­tial ser­vices, such as su­per­fast broad­band, ma­jor em­ployer, in­vestor or pur­chaser. In a com­pet­i­tive world, in which trade and re­la­tion­ships in­creas­ingly tran­scend re­gional and na­tional bound­aries, rapid and ef­fec­tive com­mu­ni­ca­tions are ever more vi­tal.”

Around 14,100 peo­ple are di­rectly em­ployed by BT and its EE busi­ness in Lon­don – equiv­a­lent to one in 16 em­ploy­ees work­ing in the re­gion’s IT and com­mu­ni­ca­tions sec­tor. Around £3.27 bil­lion was spent with Lon­don sup­pli­ers.

The over­all eco­nomic im­pact of BT and EE ac­tiv­i­ties is ex­pressed as a “Gross Value Added” (GVA) con­tri­bu­tion. For Lon­don this com­bined GVA to­talled £6.06 bil­lion – equiv­a­lent to £1 in ev­ery 65 of the re­gion’s to­tal GVA.

Chet Pa­tel, BT’s re­gional di­rec­tor for Lon­don, said: “Few or­gan­i­sa­tions have a more pos­i­tive and di­rect im­pact on the lo­cal econ­omy and Lon­don’s com­mu­nity than BT.

“The ac­qui­si­tion of EE means we can in­vest even fur­ther, en­abling peo­ple liv­ing and work­ing in Lon­don to get ac­cess to the best com­mu­ni­ca­tions – fixed line, mo­bile and broad­band ser­vices – now and in the fu­ture.”

Photo: Ben Pruch­nie/ Getty Im­ages

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