G4S UK economic impact
G4S’s activities supported over 56,000 UK jobs and directly contributed £1.04 billion to the UK economy in 2013, according to an analysis by Warwick Economics and Development, the specialist economic consultancy.
The analysis quantifies the impact G4S has on the UK through income and employment generated by the company as well as quantifying the impact due to spending by G4S staff and suppliers’ staff.
The key highlights for last year show that in total:
- G4S generated £1.53billion direct output for the UK economy, £1.04 billion of which is Gross Value Added (GVA)
- G4S directly employed 39,255 people living and working in the UK
- £491million was spent on suppliers, of which 95.7% were on suppliers based in the UK, with 49.7% being SMEs
- £443million paid to the Exchequer was supported by G4S; equivalent to £17 for every household in the UK
- Expenditure by G4S employees generated output of £578.6 million, £348 million of which is GVA
- An additional 11,351 jobs are supported in the UK through G4S’ staff and supply chain’s spending of their wages. This spending also results in an additional £348 million contribution to the economy.
Regional President for G4S in the UK and Ireland, Peter Neden, said:
“This report underlines G4S’s positive impact to the UK’s regions and communities. Last year, we contributed more than £1.5 billion to the economy and we employed around 40,000 people. An additional 9,000 jobs were maintained through our supply chain and around half of our suppliers were small and medium sized businesses.
“This contribution is the effect of thousands of G4S colleagues across the country adding value to our customers and communities by providing public services and keeping people, cash and other assets safe. I look forward to continuing to strengthen our business in the UK in the year ahead so we can continue to bring benefits to our economy and society.”
Managing Director of Warwick Economics & Development, Georgia Siora, said:
“This study shows the significant contribution global companies like G4S can have on the economies in which they operate. G4S is a major UK employer, contributed over £1.53 billion to the economy in 2013, and is involved in a wide range of community development and support activities across the country.”