Employment - key for business and Government

Value distributedEmployment is an important way in which The Hundred Group companies contribute to the UK economy and this includes the employment taxes that are paid to the Exchequer. A consistent message conveyed by the results of the Total Tax Contribution surveys has been that companies in The Hundred Group pay many taxes in addition to corporation tax. Employment taxes are the second biggest tax after product taxes for these companies. These taxes account for 10.0% points of the increase in taxes borne. It is estimated that members of The Hundred Group employ 2.1m workers (7% of the entire UK workforce) and generate £23.4bn in employment taxes (which accounts for 10.1% of total Government receipts for these taxes).

The average salary paid by The Hundred Group participants to each employee was £46,054 in 2011, much higher than the UK national average wage of £26,200 for that period. Average employment taxes paid per employee on this salary were £19,958. Employment taxes are a good indicator of the direct benefit to the Exchequer of jobs created and maintained by companies.