Ungated Post | 05 Dec 2017
Nuclear Activity Report 2016
The Nuclear Activity Report presents a comprehensive study of the UK’s civil nuclear industry. For the first time in the annual series, Oxford Economics undertook an analysis of the economic contribution the civil nuclear industry makes to the UK and its nations and regions, supporting economic output, jobs and tax revenues across the length and breadth of the country.
The assessment found that the civil nuclear industry directly employed more than 65,000 people, contributed £6.4 billion gross value added to GDP and paid around £2.8 billion in taxes in 2016. When considering the wider impact of the industry’s spending with UK suppliers and payment of wages, this contribution rises to £12.4 billion gross value added, 155,000 jobs and £4.5 billion in tax receipts.
The civil nuclear industry’s benefits to the UK economy go far beyond this core economic contribution.The industry delivers supply side economic benefits through its investments in training and capabilitie development. Civil nuclear companies employed some 1,940 apprentices and 1,070 workers on graduate schemes in 2016. The substantial research and innovation activities undertaken by the civil nuclear industry deliver further productivity benefits, which diffuse throughout the economy in a ‘spillover’ effect.
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.
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