Stranded workers 'to cost the economy £1.2 billion'
03-02-2009
It has been estimated that the severe weather which hit the UK yesterday could end up costing the British economy up to £1.2 billion.
This is because an estimated 6.4 million employees, or a fifth of the nation's workforce, stayed at home as snow disrupted roads and public transport links.
According to the Federation of Small Businesses (FSB), stalled contracts, cheques not being cashed and purchases of items such as lunchtime sandwiches not being made all contribute to the bill.
Stephen Alambritis, a spokesperson for the FSB, said: "People make do with what they've got at home, they don't go out and buy a sandwich."
As a result, there has been much discussion about the UK's infrastructure and its ability to deal with bad weather.
In comparison to the estimated £1.2 billion that the current cold snap is predicted to cost the UK economy, employees taking time off sick costs companies around £1.6 billion a year, according to figures from the Confederation of British Industry.
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