Trades House supported £1.7million of GDP in 2016/17 | Glasgow Chamber of Commerce
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Trades House supported £1.7million of GDP in 2016/17

A new report by the Fraser of Allander Institute published today examines the economic impact of the Trades House of Glasgow, identifying both the contribution that Trades House makes to the Scottish economy as well as its support to the most deprived areas of Glasgow.

The study was commissioned by Ex-Deacon Convener of the Trades House, Keith Brown OBE as a result of a newly introduced Deacon Convener Scholarship and was undertaken by MSc student Chanyong Sim in collaboration with the Fraser of Allander Institute.

The main findings of the report are:

  • That Trades House operational activities in 2016/17 supported £1.7 million of GDP (Gross Domestic product) and 37 full time equivalent jobs
  • Trades House capital expenditure since 2004/5 has generated £0.9 million of GDP and supported a total of 24 person years of full-time equivalent employment
  • Trades House plays a vital role in training and education through various events, grants and initiatives
  • Trades Hall, the home of Trades House, is the venue for a wide range of meetings, events and dinners each year which generate economic activity
  • Trades House and its 14 Trade Incorporations contribute £750,000 annually to beneficiaries and groups in Glasgow. Significantly the bulk is on the most deprived areas in Glasgow, with, for instance, 80% of the recipients through the Drapers Fund living in the 25% most deprived areas. 

The report also highlights that Trades House charitable activities support Scottish Government Policy inclusive growth agenda and cross generational inequality.

Keith Brown OBE (Deacon Convener 2016/17) in responding to the report said;

“Our contribution to charities and education in Glasgow is well known but this shows that we are also making a significant contribution to the Glasgow economy.  The study also verifies that our charitable giving and support to individuals both old and young is being particularly directed to the areas where there is the greatest need.

The Fraser of Allander Institute and Chanyong have done a first class job in highlighting the contribution that Trades House makes to Glasgow.”

Dr Grant Allan (Deputy Director of the Fraser of Allander Institute, and Director of Postgraduate Teaching at the Department of Economics, University of Strathclyde) noted:

“We are delighted to work with the Trades House through the new Deacon Convenor Scholarship showcasing both the economic contribution of a significant Glasgow institution and the highly valuable and applied work of students on our MSc Applied Economics and MSc Economics and Finance at the University of Strathclyde.”

The Trades House, which was established in 1605, is now a registered charity widely viewed as a centre of excellence in the administration of trusts and legacies.  Considerable resources are devoted to helping vulnerable people in Glasgow and the West of Scotland.   

For further information about Trades House and its fourteen Incorporated Crafts (the Scottish equivalent of craft guilds or livery companies), please contact claire.whyte@tradeshouse.org.uk

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