FDBusiness.com

The British poultry meat industry’s contribution to UK GDP has increased by 9% over the last year, up from £3.3 billion to £3.6 billion, according to a new analysis by Oxford Economics. ‘Economic Impact of the British Poultry Meat Industry 2015’, commissioned by the British Poultry Council, tracks the growth of the industry over the past year. Compared to last year, UK sales have increased in value by 13%, up from £6.1bn to £6.9bn, with exports also up 6.6% from £286m to £305m.

The increase in production is good news for UK plc. Contribution to UK GDP is up, and tax receipts are up by 10%, £1.1 billion compared to £1billion. The number of jobs the industry supports has also increased by more than 8%. The industry now employs 79,300, compared to just 73,200 a year ago, both directly and through its wider supply chain.

BPC chief executive Andrew Large comments: “Our annual report is a timely reminder of the importance of the poultry meat industry to UK plc, supporting tens of thousands of jobs and contributing £ billions to UK GDP. We are delighted the industry keeps going from strength to strength.”

He continues: “There are significant opportunities in both domestic and export markets and we look forward to working with government to realise these potential opportunities. Key to catering to this demand will be the industry’s ability to upgrade its capital assets. That’s why we have written to the Chancellor and asked him to consider maintaining the annual capital investment allowance in plant and machinery at its current level as part of his Summer Budget next week. We appreciate there are many demands on public finances, but this would make a huge difference to the industry and help it increase its contribution to UK GDP even further.”