The U.K.’s ports, shipping and maritime services industries employ 635,000 people, contributing 8.45 billion pounds ($13.71 billion) in tax revenues
The U.K.’s ports, shipping and maritime services industries employ 635,000 people, contributing 8.45 billion pounds ($13.71 billion) in tax revenues, according to a study for Maritime U.K.
Jim Stewart, Chairman of Maritime UK said:
“Shipping moves 95% of the UK’s international trade, so at a time of fierce economic challenges these figures paint a picture of remarkable resilience”.
Mr Stewart reflected on the 20% increase in GDP contributions in just two years. “We all know that aviation and railways usually get the headlines, but maritime services are a much bigger contributor to the economy, and the whole country should be proud that one of its oldest industries is continuing to deliver for Britain. And at a time when the public wants confidence in the tax arrangements of industry, we are pleased to say the industry as a whole contributes £8.5bn to the Exchequer.”
Mr Stewart concluded:
“The maritime services sector is global by its nature. The UK has always been seen as a centre of maritime excellence, but with competition emerging from maritime centres elsewhere, these massive economic contributions could be put under threat. What we need is a consistent maritime strategy from Government that will protect and promote the industry, so that we can carry on creating jobs and playing our part in the country’s economic recovery.”
Maritime businesses generated 31.73 billion pounds, equivalent to 2.1 percent of the total economy, more than the restaurant and mobile food, and the civil engineering sectors in 2011, according to the study by Oxford Economics, an Oxford, U.K.-based forecaster.
“Shipping moves 95% of the UK’s international trade, so at a time of fierce economic challenges these figures paint a picture of remarkable resilience”.
Mr Stewart reflected on the 20% increase in GDP contributions in just two years. “We all know that aviation and railways usually get the headlines, but maritime services are a much bigger contributor to the economy, and the whole country should be proud that one of its oldest industries is continuing to deliver for Britain. And at a time when the public wants confidence in the tax arrangements of industry, we are pleased to say the industry as a whole contributes £8.5bn to the Exchequer.”
Mr Stewart concluded:
“The maritime services sector is global by its nature. The UK has always been seen as a centre of maritime excellence, but with competition emerging from maritime centres elsewhere, these massive economic contributions could be put under threat. What we need is a consistent maritime strategy from Government that will protect and promote the industry, so that we can carry on creating jobs and playing our part in the country’s economic recovery.”
If Ports Package 3 goes through these figures will be reduced big time once the cheap untrained labour get a foothold in the Docks.
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