SSPO: Scottish industry paid £50 million in corporation tax last year

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New economic impact report looks at the economic impact of Scottish salmon farming.

The BBC reports that an analysis, produced by 4 Consulting for the Scottish Salmon Producers Organisation, writes that corporation tax contribution for last year was GBP 50m. GBP 24m was paid to HMRC through income tax and national insurance. And GBP 37m was directly paid, net, on production and products.

The report shows the sector employs about 2,300 people with a total wage bill of GBP 76 million. The average salary was GBP 34,000 in 2018, more than 16 per cent greater than the Scottish average.

The new economic impact report added that that for every GBP 100 of turnover in aquaculture, a further GBP 93 of output is generated in areas such as the supply chain and general spending by employees. There are estimated to be more than 3,400 companies that provide services to the salmon farming industry.

SSPO’s director of strategic engagement Hamish Macdonell said: “It should come as no surprise that the Scottish farmed salmon sector contributes a huge amount to the economy, but what these new figures reveal is quite how big that contribution is.”