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Babcock is a significant employer and a key driver of the UK economy.

We work across all our markets and sectors in the UK. Headquartered in London and with dockyards, specialist training facilities, equipment testing centres and research and development facilities and offices across England, Scotland, Northern Ireland and Wales.

We are committed to making a positive contribution to the communities in which we operate by providing high-quality jobs and delivering social and economic sustainability.

A report by Oxford Economics into Babcock’s social and economic contribution to the UK highlights our critical role in the UK defence sector and how we support the levelling up agenda across the UK by investing and supporting employment in the most deprived areas. The report also finds that in the 2021/22 financial year, Babcock contributed £3.3bn in GDP to the UK economy and £770 million in tax revenues. See below for more key findings.

Key findings

Socio-economic Impact

264 graduates and 985 apprentices in training schemes

30,000 students engaged through STEM outreach activities.

£337m spent with 2,220 SME suppliers.

£290m spent with suppliers in areas classified as a “high priority” for the government’s Levelling Up Fund.

1,660 people directly employed and £230m spent with 1,070 suppliers in the 20% most deprived local authority areas in the UK.

Business area economic impact

Naval engineering, support and systems

£2bn

contribution to GDP

35,200

jobs supported

Critical services: defence and civil

£1.3bn

contribution to GDP

21,600

jobs supported

Impact in south west england and scotland

Scotland

£370m

total contribution to GDP

6,300

jobs supported

South West England

£1.1bn

total contribution to GDP

19,400

jobs supported

Results relate to the 2022 financial year which ran from 1 April 2021 to 31 March 2022

economic impact

Direct

Indirect

Induced

£3.3bn

Total UK GDP contribution

£1.1bn

£1. 0bn

£1.3bn

56,800

Total UK jobs supported

22,000

18,100

16,700

£770m

Total UK tax revenues

£210m

£220m

£340m

Creating prosperity, together

In the South West of England region:

  • £1.1bn contribution to GDP
  • 19,400 jobs sustained in the region, with over 10,400 directly employed, and a further 8,900 jobs supported in businesses across its UK supply chain.
  • 300 graduates and 620 apprentices training with Babcock in the South West.
  • More than £140m paid to suppliers, and £460m paid to workers in the region.
  • Over 60 sites in the area, including Devonport, the largest naval base in Western Europe.

In Scotland:

  • £370m contribution to GDP
  • 6,300 jobs supported in Scotland, with over 3,500 directly employed, and a further 2,800 jobs supported in businesses across its Scottish supply chain.
  • Over 3,100 people working in major naval dockyards at Rosyth and HMNB Clyde providing critical services to the Royal Navy
  • More than £50m paid to suppliers, and £150m paid to workers in Scotland
  • Over 150 graduates and apprentices training to become high skilled workers in the region

Oxford Economics report

Read the full Oxford Economics report to find out more about our contribution to the UK

6 MB

Infographic

View our infographic to see a visual summary of the key report findings

719 KB

Executive summary

Read the executive summary of the report for an overview of how we are creating prosperity together

5 MB

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