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UK Poultry adds more than paltry sum to GDP

It turns out that the contribution the poultry industry makes to Britain’s economy every year is more than just chicken feed. 

An analysis by Oxford Economics showed that the poultry sector made a £3.3 billion gross value added contribution to GDP in a year and supported 73,200 jobs.

For every £1 billion it contributed, the industry generated a further £1.3 billion to the rest of the economy, said Oxford Economics, and added that in total, the industry supported £1 billion in total tax payable to the Exchequer.

The “economic impact assessment” report was commissioned by the British Poultry Council, the trade body for the poultry meat industry, and will be conducted annually to act as a“benchmark” for the industry. According to the analysis, British consumers now buy more poultry than any other meat. By weight, poultry, which includes chicken, turkeys, ducks and geese, accounts for about half of all meat purchased in the UK.

Poultry is also a cheaper source of protein, with prices rising 23 per cent since 2008. In the same time period, the prices of beef and lamb rose by 51 per cent and 54 per cent respectively.

George Eustice, the farming minister, said: “The poultry meat industry is very important to Britain. Poultry is an affordable and tasty source of protein. It is more popular than beef, lamb and fish combined, and has become increasingly popular in recent times.”

Source: www.thetimes.co.uk - 22 March 2014