Chancellor Rachel Reeves secures a planned £8 billion investment from Amazon Web Services which is estimated to support around 14,000 jobs per year across the UK
The Chancellor Rachel Reeves has today [11 September] confirmed an £8 billion investment from Amazon Web Services which is estimated to support thousands of jobs across the UK.
The Chancellor secured the planned five-year investment last week at a meeting with Amazon Web Services. The investment is estimated to support around 14,000 jobs per year at local businesses, including those across the company’s data centre supply chain such as construction, facility maintenance, engineering and telecommunications, as well as well as other jobs within the broader local economy. AWS estimates that these investments in the UK will contribute £14 billion to the UK’s total Gross Domestic Product (GDP) from 2024 to 2028.
Rachel Reeves will welcome the announcement as part of the government’s long-term mission to boost growth, unlock investment and make every part of Britain better off.
Speaking from a University Technical College in Silverstone today, which works with Amazon Web Services to introduce students to the skills required to enter the digital infrastructure industry, the Chancellor will warn that ‘change cannot happen overnight’ and ‘two quarters of positive economic growth will not make up for fourteen years of stagnation under the previous government.’
Chancellor of the Exchequer, Rachel Reeves said:
Amazon Web Services Vice President and Managing Director, Europe, Middle East & Africa (EMEA), Tanuja Randery said:
Today’s investment announcement comes ahead of this year’s UK International Investment Summit on 14 October, where the UK will bring together the world’s most important companies and investors, demonstrating how the UK’s offer is the best in the world, with political and economic stability, a strategic government partnering with businesses, a proper trade strategy, and policies designed to enable growth.