2. The big picture: A nationwide network delivering nationwide economic value
Key findings: A nationwide network delivering nationwide economic value
- At a national level, Post Office generates an economic impact of £4.7 billion across the United Kingdom a year. In fact, for every £1 spent by Post Office, an additional £1.51 is generated across the wider economy. That’s more than the annual economic impact of Heathrow Airport.
- Post Office’s branch network also supports communities at a local level. The expenditure of Post Office’s branches resulted in an average economic impact on the UK economy of £5.8 million per parliamentary constituency, which is equivalent to an economic contribution of £57 per person. Digging deeper, there were 102 constituencies (out of 650) associated with at least £7.5 million of UK-wide economic impact and 426 constituencies associated with an impact of at least £5 million. To demonstrate the breadth of the impact, the analysis shows that at least £2 million of UK-wide economic impact originated from every parliamentary constituency.
- Post Office supports c.50,000 full-time equivalent jobs across the United Kingdom – and as many as 5,500 jobs in some regions. That is equivalent to the number of full-time employees in a city the size of Lincoln or Exeter.
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