Philip Hammond hails £1bn Google investment after Brexit vote

Posted On: 
15th November 2016

Philip Hammond has hailed a “big vote of confidence” in the UK despite the vote for Brexit after tech giant Google announced a £1bn investment plan in Britain.

Google is set to open a new HQ in London
PA Images

In a major boost to the UK technology sector the firm unveiled plans for a new HQ in London which could see 3,000 jobs created by 2020.

Chief executive Sundar Pichai told the BBC the UK remained an attractive place to do business despite the vote to quit the EU.

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But he said open borders and free movement for skilled migrants were “absolutely” vital to ensure the UK tech sector continues to thrive.

Chancellor Mr Hammond said: “This is big vote of confidence in Britain’s leading position as a global tech-hub and more evidence that leading firms are choosing to invest here. 

"Our technology industry is central to securing future economic growth and this government is committed to ensuring it continues to thrive.‎ 

"It’s further proof that Britain is open for business and that we continue to be an outward looking, world-leading nation.”

In January this year the Government was derided after agreeing to collect just £130m in backdated taxes from Google spanning a 10 year period.