UK Study Highlights Economic Contribution Of Nuclear

4 Dec (NucNet): The UK’s civil nuclear sector contributed £6.4bn (€7.2bn, $8.6bn) to the UK economy last year and its 65,000 employees are part of one of the most productive workforces in the country, a study has concluded. The study, compiled by Oxford Economics and commissioned by the London-based Nuclear Industry Association, shows this economic impact increases to £12.4bn and 155,000 jobs when the sector’s spend on associated goods and services in the supply chain and the wage spend by employees is taken into account. Each nuclear sector employee contributes an average of £96,600 in gross value added (GVA) to the economy, 73% higher than the UK average, reflecting the highly-skilled nature of the workforce and the use of advanced technologies, the study says. This direct impact, while accounting for 0.3% of UK GDP, also generates substantial sums in taxes, with the report estimating the sector paid around £2.8bn in tax payments in 2016, rising to £4.5bn when associated spend is included. The north west of England, home to Sellafield, the National Nuclear Laboratory, Heysham nuclear station, and Urenco and Westinghouse fuel plants, sees the largest regional impact. Some £4.3bn in GVA was contributed by the sector across this region in 2016 – the equivalent to 2.7% of all regional output. The report is online: http://bit.ly/2BCGKR7