Cripes! Fashion Is Big Business for Britain
With imminent cuts threatening the UK’s public sector, now may not seem the most appropriate time to start asking Cameron’s government for a helping hand, but that’s precisely what the British Fashion Council has done in a new report which states that the British fashion industry is now worth an estimated £21bn to the UK economy.
The British Fashion Council chairman and brains behind luxury UK brands Jaeger and Aquascutum, Harold Tillman, told Sky News that the sector should be recognised by the UK government for its major contribution to the economy. He told presenter Jeff Randall: ‘I like to think we are definitely number one. We're new, we're innovative.’
The report’s findings, released to coincide with London Fashion Week, state that the industry employs 816,000 people, ranking it as the 15th largest in the UK. These figures come at a vital time for the fashion industry, which has recently warned about the escalating costs in cotton and the planned VAT hike having a significant affect on the buying public. Read more about the report, and watch a video of Tillman’s interview on the Sky News website.