Jaguar’s Brexit boost: Car giant announces plans for 10,000 new jobs as UK sees investment, export and retail all rise
Jaguar Land Rover threw its weight behind the UK by indicating expansion
New figures confounded further the gloomy official forecasts this week
Car giant’s boss challenged government to make £450million investment
Firm planning to build a new generation of battery-powered vehicles
JAMES SALMON, HUGO DUNCAN and JAMES SLACK FOR THE DAILY MAIL
26 November, 2016
Jaguar Land Rover yesterday unveiled plans to double production and create thousands of jobs in Britain.
The car giant threw its weight behind the UK by indicating it could expand its workforce by 10,000 and make a million vehicles a year by 2020.
A flurry of other positive news showed investment, exports and retail sales were rising.
The figures confounded gloomy official forecasts this week that suggested leaving the EU would cost billions of pounds and worsen a squeeze on living standards.
Developments yesterday included:
The pro-Remain CBI admitted retail sales were rising at the fastest pace in a year;
Exports rose 0.7 per cent helped by the weaker pound;
Business investment rose sharply in the three months following the referendum;
The Bavarian economics minister called for a comprehensive trade deal with Britain;
No 10 slapped down John Major for saying there was a case for a second referendum.
A string of economists claimed this week that Brexit was likely to harm the economy – while citing highly uncertain figures.
But MPs and ministers pointed out that their ‘doom-mongering’ forecasts of an immediate recession after the June 23 referendum had proved false.
That stance was boosted by the announcement from Jaguar Land Rover boss Ralf Speth.
He vowed to use the UK as a base to take on the powerful German motor industry and make Britain the global leader in electric cars.
Jaguar Land Rover boss Ralf Speth vowed to use the UK as a base to take on the powerful German motor industry and make Britain the global leader in electric cars.
The firm is planning to build a new generation of the vehicles along with the batteries that will power them.