SSE : When times are tough, we all rely on public services

There is no doubt that this year has been dominated by the coronavirus pandemic and the social and economic consequences that have arisen. In the context of increased public expenditure for vital health services and emergency support for people and businesses, the payment of tax has rarely been so important.

Today we published the Talking Tax 2020 report. It's purpose is to outline, in detail and in an accessible way, the way in which SSE's business activities support wider society, through the payment of tax. This report supplements our annual financial results with increased explanation, and with enhanced disclosure of our tax contributions, particularly breaking them down between the two jurisdictions in which we operate: the UK and Ireland.

We undertake detailed tax reporting every year, to support the enhanced transparency standards that the Fair Tax Mark require us to do. 2020 represents the seventh time SSE has been accredited by the Fair Tax Mark as paying the right amount of tax, in the right place and at the right time.

While we were the only FTSE100 company to achieve accreditation for five years, we are delighted to now be joined by three more. We continue to be committed to the principles of Fair Tax as we believe it to be a cornerstone of our relationship with consumers and communities across the countries we operate in and we believe there has never been a better time for more companies to join the movement.

During the current pandemic, it is even more important that the relationship between business and the people they serve is strengthened. When times are tough, we all rely on vital public services.

SSE is fortunate because we are in a sector less affected by the virus than some. While no business is unaffected by the pandemic, SSE continues to invest in people and low-carbon infrastructure and, as a result, we continue to be profitable and therefore, in a position, to pay corporation tax.

Finally, SSE has made the case, since the beginning of the pandemic, that the best way to recover the economy is to build back greener. Accelerating the transition to a net-zero economy is a win-win proposition.

Economic activity is stimulated, creating jobs and tax revenues, and we speed up the response to the other great crisis: climate change.

That's precisely the long-term role SSE seeks to fulfill: providing the energy people need today whilst building a better world of energy tomorrow, creating simultaneous value for both society and our shareholders.

Read the full Talking Tax 2020 report here.