SSE is one of the most significant taxpayers in the UK, a committee of MPs heard this morning.
SSE’s Deputy Chief Executive, Alistair Phillips-Davies, told the Energy & Climate Change Select Committee that although the tax SSE pays varies from year to year, the company paid £385m in business taxes and rates in 2011/12.
A recent report by pwc for the Hundred Group of finance directors ranked SSE the 17th highest in the group, some 15 places above its ranking in the FTSE 100 by market capitalisation.
In addition, the report highlighted that SSE collected a further £250 million of employment taxes and environmental taxes in 2011/12, resulting in combined tax contributions totalling £646m. The company has paid £1.2bn in corporation tax alone over the last five years.
SSE invests over £4 million a day, providing crucial infrastructure, community investment and local employment. The company also employs around 20,000 people and, correspondingly, earned a top-ten ranking in the Hundred Group for employment of graduates and apprentices, UK skills base training and employee hours donated to voluntary work, as well as for capital investment in infrastructure.
Alistair Phillips-Davies said: “As a major UK taxpayer, SSE is proud to be making a valuable contribution to the economic prosperity of the country and communities in which we operate.”