PM tells US investors “Britain is open for business” as he secured major £10 billion deal to drive growth and create jobs
https://www.gov.uk/government/news/pm-tells-us-investors-britain-is-open-for-business-as-he-secured-major-10-billion-deal-to-drive-growth-and-create-jobs
Posted by TheUnimpressiveD
7 Comments
Is there anybody going to tell me why this is bad?
Personaly see this has some good news, I would hope we further grow our trades with European countries as well.
I don’t give a toss about jobs when they all pay shitty wages.
It is a £10B investment by the private equity firm Blackstone. It is an AI datacentre. I have no idea why Blackstone think the investment is a good idea. The U.K. has some of the highest energy prices in the world. Which is a major input of an AI datacentre. Although, highly skilled labour is cheap by American standards. Data centres are not known for their high staffing requirements.
I can only imagine the U.K. possesses some other valuable resource important to the input of a £10B AI data centre.
I am thinking it is simply health data. Given that Palantir are handling the data processing of NHS data.
[https://www.ft.com/content/18ed74ae-b987-4cad-aafa-8be4b6e638ce](https://www.ft.com/content/18ed74ae-b987-4cad-aafa-8be4b6e638ce)
It could also be an AI datacentre meant for financial services. However, I’d think its only benefit to do this would be its proximity and therefore lack of latency to London. So, for higher frequency trading.
No doubt, any profitable insights gained by the AI datacentre processing our data will be capitalised on by those funding this investment.
The investment is also to take over a site that was intended for a U.K. battery factory. By the now defunct and classically British style mis-managed BritishVolt.
You’d think manufacturing would be a better fit for the North East of England. Given it is still scarred by a generational post-industrial hangover. Complete with the commensurate high levels of unemployment, poverty and comparatively low levels of education.
It is telling that the government is highlighting the monetary value of the investment. Not the benefit to the local community in jobs. Which is unusual for a Labour party. Although, I guess at least the government have managed to secure £110M in promised investment in skills training for the local area. Which I assume was necessary because of the low projected economic multiplier effects in the local community for such a large investment.
As ever, the devil is in the detail.
Though next time he would have preferred an unmarked briefcase, instead of a sack with a dollar bill sign on it.
PM tells US the UK’s carcass is ripe for the picking more like.
I wonder what kind of bennies they were offered for this?
you brits need also small business. Which is not possible thx to brexit 😉