IT and telecoms could boost UK economy by £35bn


IT and telecoms could boost UK economy by £35bn

Antony Savvas

Making the most of IT and telecoms could boost the UK economy by £35bn over the next ten years.

New research from E-Skills UK highlights the critical importance of IT and telecoms to the UK and the urgent need to invest in skills.

E-Skills UK says the extra £35bn will only be generated if the skills base is improved, there is an improved adoption of technology by business - particularly among small firms - and technology innovation is promoted.

The "IT & Telecoms Insights 2008" research provides a view of the key trends, opportunities and challenges facing the UK over the next ten years.

The research will be used later this year to draw up an employer-led action plan to help the UK towards the extra £35bn that could be generated.

Karen Price, CEO of E-Skills UK, said, "The research evidence is unequivocal: in today's increasingly fast moving global business environment, IT and telecoms provides the engine of future growth and the key to increasing productivity and competitiveness."

Price said half of Europe's productivity gains in recent years can be attributed to investments in IT. IT and telecoms already contributes £51.9bn to the UK economy every year - 5% of the total UK economy - and provides jobs for 5% of the UK's workforce, she said.

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