Lidl has released a report which revealed it contributed £14.5bn in Gross Value Added to the British economy in FY24.

The discounter said it invested £5.8bn in supporting British food during the period, as part of its commitment to backing British suppliers.

It also supports 281,813 jobs both directly and indirectly in the farm-to-factory process in its supply chain and operations.

Additionally, the discount retailer donated 18.5m meals to people in need in 2024 through its charity partnerships, including Neighbourly.

Ryan McDonnell, CEO of Lidl GB, said: “We’re incredibly proud of the socio-economic impact that our operations bring to communities in Great Britain.

”Given that we’re on track to open hundreds more stores across the country, we’re encouraged by the numbers reflected in this report because they demonstrate our tangible contribution to the British economy as a whole.

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The report also revealed that the supermarket retailer paid over £1bn in tax to the Government which is used to fund the NHS, education, transport and state pensions.

McDonnell added: “Cutting the ribbon on our 1,000th store is a milestone moment for us as we celebrate not just another new Lidl, but the meaningful impact it will have.

”We know there are still many communities which could benefit from the Lidl Effect, so we remain laser-focused on delivering that through our ambitious growth plans.”

Lidl plans to continue its expansion, with £478m invested in the development of new stores and distribution centres during 2024.

Moving forward, the retailer plans to increase its investment in British suppliers, looking to double investment to the value of £30bn.