Commitment from GSK is shot in arm

The economic future of the United Kingdom remains far from certain, both in the short term as the country negotiates its way out of the European Union and the longer-term post-Brexit landscape.

Throughout the EU referendum, analysts, economists and business leaders gave dire warnings about companies deserting the country in the wake of a vote to leave the EU.

That may still come to pass but it is encouraging to see a major player like GlaxoSmithKline commit to the UK, and its Tayside operation at Montrose in particular.

GSK’s chief executive Sir Andrew Witty backed the Remain campaign, stating Brexit “would create uncertainty and potentially add complexity” for the life sciences sector, so vital to the local economy.

Thankfully the firm has found conditions to be less inclement than it first feared.

GSK has a skilled workforce in Montrose and were reticent to cast such expertise adrift.

The cheaper pound has also created favourable trading conditions when dealing with foreign markets.

Amid the gloom of a succession of post-referendum reports stating businesses are concerned for the future and consumers are holding off on big-ticket purchases, this is a ray of light.

It must be hoped other industries gain confidence from GSK’s stance and follow its lead, commit themselves to the UK and attempt to thrive in the changed circumstances.