02 Apr 2008 | Ref. 111/2008
London, United Kingdom – BAE Systems today welcomed the publication of a new report which shows the Company adds billions of pounds to the UK economy through its contributions to GDP, employment, investment and research plus development spending.
The findings of ‘The Economic Contribution of BAE Systems to the UK in 2006’ published by Oxford Economics and Geoeconomics, highlight the long-term strategic benefits that BAE Systems, as a UK-based leading global defence and aerospace company, brought to the UK economy, including substantial contributions to the innovation and knowledge economy.
The report found that in 2006, BAE Systems directly employed 35,000 people in the UK, added £2.4 billion to the UK GDP, recorded exports of £4.1 billion, paid nearly £500 million in taxes and channelled spend of nearly £900 million into research and development activities. When the indirect and induced benefits of BAE Systems’ activities were included, the research found, more than 105,000 people were employed as a result of its activities, while more than £790 million in taxes were paid and the contribution to the UK GDP was more than £5.8 billion.
Julian Scopes, Head of Government Relations, BAE Systems, said: “The report findings underscore the importance of the Government’s Defence Industrial Strategy, which aims to secure the UK’s long-term ability to maintain the skills and industrial capability to sustain a world-class and globally competitive defence industry. Through programmes such as Typhoon, the Type 45 destroyers and the Astute submarines, and through new developments like autonomous systems, BAE Systems is helping to sustain and expand the UK’s position as a leader in the advanced technologies and manufacturing programmes, this will secure and define a successful, innovative and knowledge-based economy in the 21st century and beyond.
“The findings of this research reinforce BAE Systems’ commitment to a partnering approach with both the UK MOD and with companies throughout the UK supply chain to ensure that ongoing benefits of investment in research and development, industrial capability and skills development and retention, continue to be felt by the entire UK economy.”
The report also highlighted the important role BAE Systems plays in the economy of the North West of England, where nearly 3 per cent of all knowledge-intensive private sector jobs are directly generated by BAE Systems.
About BAE Systems
BAE Systems is the premier global defence and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, information technology solutions and customer support services. With 97,500 employees worldwide, BAE Systems' sales exceeded £15.7 billion (US $31.4 billion) in 2007.
To obtain a copy of the report please go to www.oxfordeconomics.com or www.geoeconomics.com
For further information please contact
Lindsay Walls, BAE Systems
Tel: +44 (0) 1252 383074 Mob: +44 (0) 7793 427582
lindsay.walls@baesystems.com
John Neilson, BAE Systems
Tel: +44 (0) 1252 384795
john.neilson@baesystems.com
Issued by:
BAE Systems, Farnborough, Hampshire GU14 6YU, UK
Tel: +44 (0) 1252 384719 Fax: +44 (0) 1252 383947
24hr media hotline: + 44 (0) 7801 717739
www.baesystems.com
