Two EU giants set to invest millions in UK

BrITaIN was handed a double boost yesterday as two major european companies outlined fresh plans to invest in the country.

Swedish telecoms giant ericsson and pork producer Danish Crown said they would plough millions into the UK in the coming years.

The vote of confidence was hugely welcome as a bleak report from the Organisation of economic Cooperation and Development warned that Britain would be the worst performing economy in the g7 next year. The Paris-based group forecast a decline of 0.4pc for the UK in 2023.

But ericsson said it would spend tens of millions of pounds in the UK over the next ten years by establishing a research unit to focus on 6g connectivity. The company said the programme would see researchers employed alongside PhD students and other academics to look into next generation 6g technology and its possible uses.

an exact figure for the investment has not been confirmed by ericsson but the company said 6g is expected to become available in the 2030s.

The government welcomed ericsson’s announcement.

Culture Secretary Michelle Donelan said it was a ‘huge vote of confidence in the UK’s innovative telecoms sector’.

ericsson UK chief executive Katherine ainley said: ‘This new investment underlines our ongoing commitment to ensure Britain remains a global leader in the technologies and industries of the future.’

Danish Crown said it will build a £100m plant in rochdale to turn Danish pork into bacon and sausages for consumers, creating 300 jobs.

The company’s boss Jais Valeur said: ‘Bacon is a basic commodity for most British consumers. This is simply something you need to have.’