This is equivalent to a return of almost £19 for every £1 of public money spent. The scale of this return underscores the significant economic benefits and value the Met Office delivers to the UK and that the importance of accurate, timely and detailed weather and climate information for government, industry and citizens has never been greater.
Science Minister Lord Vallance said: “This report provides strong evidence that the Met Office can help drive economic growth and benefit the economy over the next decade.
“Whether through advance warnings of extreme weather or allowing better understanding of the impacts of climate change, the Met Office provides crucial meteorological services that help businesses, emergency responders and the public to make informed decisions to stay safe and thrive.
“These independent findings underline the value our public sector research establishments provide to the taxpayer and the importance of staying at the forefront of science for the country.”
The report confirms the Met Office’s role, not only as a beacon of scientific excellence, but also as a solid support for economic growth. The projected impacts over the coming decade highlight the organisation’s efficiency and the substantial return on investment it offers to the nation. The study reveals the wide range of impacts Met Office services have across five broad areas:
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weather information, forecasts, warnings and advice to the public, governments and UK civil contingency groups, as well as specialist weather modelling and data, including space weather forecasts and dispersion modelling;
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climate information and projections along with related climate services that support government and industry with climate change mitigation and adaptation activities;
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weather and climate services and information to industry, including through specialist services and consultancy to aviation, energy, water and transport;
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scientific research, innovation and technology, including world-leading weather and climate science research programmes, the collection and processing of weather observations and wider technological and innovation related activities such as partnerships and data provision.
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international partnerships, development activities and public engagement to exchange knowledge, support international partners and bodies and build weather and climate understanding for the future.
Met Office Chief Executive Penny Endersby said: “Weather and climate touch every part of a nation’s life and this independent research assessed the enormous depth and breadth of our work in terms of its value to the UK and its citizens. We are proud that we offer such a high return on every pound invested in our science and services, and will strive to keep improving our capabilities to help you make better decisions to stay safe and thrive.”
The Met Office, the UK’s national weather and climate service, has over 1200 public and private sector customers, bringing in over £330 million of revenue annually, with 97% of emergency responders and 83% of the public trusting the organisation for their decision making when it matters.
Alan Lovell, Chair of the Environment Agency, said: “Timely and reliable weather information is vital with a changing climate, and the findings of this research underline the value the Met Office provides to communities across the UK.
“This crucial information underpins the Environment Agency’s partnership with the Met Office to combat the growing threat of flooding, ensuring that we can provide prompt warnings to communities at risk and build new flood defences to improve the nation’s resilience.”
This independent economic analysis carried out by London Economics, forms part of the government’s drive to ensure that the services it funds provide value for money for the taxpayer and are continuously improving the delivery of vital services.
Concluding that every £1 of public money invested in the Met Office returns £18.80 of value to the UK, the report also highlights the substantial non-monetised benefits accruing to the UK, as well as globally. This means that the true value delivered by the Met Office is likely to be even larger than the already large, estimated benefit-to-cost ratio identified.
Dr Charlotte Duke Partner at London Economics said: “The study represents a significant advance in our understanding of the benefits of the complex matrix of services the Met Office provides and how it translates cutting edge climate and meteorological science directly into economic wins for the UK.”
The Met Office continues to be a cornerstone of economic and scientific advancement not only in the UK but also on the international stage. Demands for its services are expanding in response to customer requirements and needs. Combining deep expertise and world-class research and innovation to deliver accessible, relevant and trusted weather and climate services, the Met Office is able to meet the needs of government, industry and citizens – both for today and tomorrow.
These findings underscore the importance of ongoing investment and support for the Met Office’s initiatives, ensuring it remains at the forefront of weather and climate science both nationally and internationally.
Read the full London Economics study.