Economic review Keltbray contributes to the economy and society both directly and indirectly, through the taxes it contributes, the jobs it creates, the local people it upskills, the resources it procures, the local business opportunities it generates and the education and community health initiatives it supports. The people we employ, taxes they and we pay, and money that we spend with suppliers represent our most significant positive contribution to the UK economy and the local communities that host us. The majority of this expenditure is in urban areas, and the multiplier effect means that our total economic contribution extends far beyond the value that we add directly. In the FY2020, by way of example, we contributed the following economic value:
£243.0m spent through the construction supply chain
1 ECONOMIC GROWTH Keltbray’s five-year strategy is predicated on creating sustained growth that benefits our customers, the company, our supply chain partners and the communities where we go to work. Primarily, by being successful, we deliver economic growth through: – Procurement of products and services – Provision of valuable employment, in highly skilled and technical professions and trades through our self-delivery model, generating national income tax, contributions to the public purse and increased consumer spending – Improved industry skills and employability allowing a greater societal contribution by our people – Corporation taxes and levies we pay as a large, private enterprise – The built environment and infrastructure we build, which drives economic growth and development across all sectors of the economy Our customers and wider society face increasingly complex challenges, which are driving
£100.5m
paid to our PAYE employees through wages, pensions and related expenditure
20
Keltbray Group (Holdings) Limited | Sustainable development review | 2020
greater demand for Keltbray’s expertise in delivering functional, cost-effective solutions through its integrated self-delivery model. Customers are seeking sustainable solutions that go beyond our contractual commitments, and help improve society for the long term. We see this as a powerful opportunity to deliver new, more resilient and low carbon solutions that help customers achieve their own sustainability goals. Reciprocally, this also reduces Keltbray’s carbon footprint and makes us a more attractive business partner, enhancing our growth prospects. Underpinning this approach is the Group’s commitment to continuous improvement through consistent project level feedback across the project portfolio. Routine, formal and informal engagement with customers facilitates process improvements across all areas of the company from the contract win through all phases to project handover. Strategic supplier partnerships are supported through carefully planned and co-ordinated communications. These highlight how partnerships bring benefits to the delivery of projects and drive innovation throughout the industry.
