UK is the business when it comes to adding value

Wealth
creation among UK companies is up – and increasing faster than the rest of
Europe, according to the 2004 Value Added Scoreboard, published today by the
DTI.

The
scoreboard, which lists the value added (wealth created) for the top 600
European and top 800 UK companies, is good news for UK business. Since last
year, value added by the top 800 UK companies has increased by 4 per cent
compared with a 1 per cent increase by the European top 600.

There
are more UK companies in the European 600 than any other country (165) with a
combined value added of £315bn. Second is Germany with 89 companies (£295bn),
followed by France with 83 (£246bn).

Secretary
of state for trade and industry Patricia Hewitt said: "Efficient wealth
creation and reinvestment by business is vital to the continued growth of the
UK economy and our future prosperity."

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"The
scoreboard highlights the importance of investment in R&D, skills, brands
and market development," she added.

By Mike Berry