Chancellor Rachel Reeves has 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 AWS. 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 other jobs within the broader local economy.
AWS itself estimates that these investments in the UK will contribute £14bn to the UK’s total Gross Domestic Product (GDP) from 2024 to 2028.
Speaking from a University Technical College in Silverstone today, which works with AWS to introduce students to the skills required to enter the digital infrastructure industry, the Chancellor will warn: “I am under no illusion to the scale of the challenge facing our economy and I will be honest with the British people that change will not happen overnight.
“Two quarters of positive economic growth does not make up for fourteen years of stagnation under the previous government.
“However, this £8 billion investment marks the start of the economic revival and shows Britain is a place to do business. I am determined to go further so we can deliver on our mandate to create jobs, unlock investment and make every part of Britain better off. The hard work to fix the foundations of our economy has only just begun.”
AWS vice president and managing director, Europe, Middle East & Africa (EMEA), Tanuja Randery, added: “The next few years could be among the most pivotal for the UK’s digital and economic future, as organisations of all sizes across the country increasingly embrace technologies like cloud computing and AI to help them accelerate innovation, increase productivity, and compete on the global stage.
“AWS is proud to announce our plans to invest £8 billion in digital and AI infrastructure over the next five years to help meet the growing needs of our customers and partners, and support the transformation of the UK’s digital economy.”
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