SSE contributes over £50bn to UK and Irish economies over the last five years
SSE has again published its economic contribution to the UK and Ireland alongside its financial results. It demonstrates the scale of economic activity SSE’s operations support in Scotland, the UK as a whole, and in Ireland.
2016/17 was a particularly strong year, with a £9.3bn contribution to the UK economy, representing 0.5% of the UK’s entire Gross Domestic Product in the same year. Furthermore, the Scottish impact was especially significant with a contribution of £1.9bn to Scottish GDP, representing 1.4% of the Scottish economy – the largest since SSE started measuring its contribution six years ago. The contribution to Irish GDP remained consistent with last year, totalling €779m.
The study, which was commissioned by SSE and conducted by professional services firm PwC, also shows SSE supported over 100,000 jobs throughout the UK in the last financial year while contributing around £46.3bn to the UK economy over the previous five years. In Ireland, the analysis showed that over 4,700 jobs were supported last year. Together, this brings the contribution that SSE has made to the UK and Irish economies to over £50bn since 2013.
Alistair Phillips-Davies, Chief Executive of SSE, said: “We’re proud to make over £9bn contribution to the UK economy every year, as well as supporting over 100,000 jobs. Through our continued investment in the GB and Irish energy markets we’re delivering highly skilled jobs, boosting order books, supporting major infrastructure projects, and driving forward on the Living Wage and tax transparency.
“Financial results measure a company’s annual performance but SSE’s impact on society is much wider. These figures show we contribute greatly to the overall economy helping support jobs not just in SSE but in many small, medium and large businesses across the UK and Ireland.”
SSE aims to be one of the most transparent companies for reporting in the FTSE 100 and is accredited by the Fair Tax Mark for its clear and open accounting practices and approach to tax.
To read the full report click here.