1 Abr 2025
Babcock supporting one in every 550 jobs in the UK
Apprentice Emily Taylor in FSC
The Oxford Economics report published today shows that we made a total contribution of £4.3 billion to UK GDP in FY2024, a significant increase of £1 billion since FY2022. For every £1 spent with Babcock on UK defence, £3 goes back into the UK economy.
Over the last two years, we have substantially grown the number of UK jobs that we support to 67,000 across the country, equivalent to one in every 550 jobs in the UK.
Other key findings include:
- Significant impact on the UK’s regional economies, including over 12,000 staff directly employed in the South West of England and 5,400 in Scotland
- 1,800 people being trained through our graduate and apprenticeship programmes
- An estimated total tax contribution of £1.1 billion to the UK Exchequer, directly and indirectly
- £550 million spent with UK Small & Medium Enterprises (SMEs), supporting more than 3,800 businesses
David Lockwood, Chief Executive of Babcock, said: “We are proud of the role we play across the country.
“Babcock doesn’t just help protect the UK; we are helping to drive prosperity. At this critical time for national security, our highly experienced teams play a key role in developing sovereign capabilities to create a safe and secure world, together with our wider industry colleagues and partners.
“We are investing in infrastructure, technology, and skills that we need today to bolster the growth of our business for tomorrow. This commitment to our customers and continuous investment in our people is making us a better business. We are determined to continue supporting the communities we work in whilst delivering the capabilities our armed forces need to keep the country safe.”
Rt Hon Maria Eagle MP, Minister for Defence Procurement and Industry, said: “Babcock is a fantastic example of how defence is an engine for growth, creating jobs across the nation.
“The company supports thousands of skilled jobs across the South-West and Scotland and invests in British SMEs, building up local communities and developing talent through graduate and apprenticeship programmes.
“Our Defence Industrial Strategy will help direct more defence spending to British-based firms, such as Babcock, boosting defence jobs in every nation and region.”