Theresa May hailed a 'vote of confidence' in post-Brexit Britain today after Nissan signalled a major expansion of its plant in Sunderland.
Doubts had been raised about whether the firm would push ahead with production of the new Qashquai at the huge plant in the North East in the wake of the Brexit vote.
There had been anxiety that the risk of tariffs being imposed on exports to the EU could make the site less attractive for investment.
But the firm has now confirmed that the Qashqai SUV and X-Trail will be made in Sunderland.
The news comes after Nissan boss Carlos Ghosn met the Prime Minister in Downing Street earlier this month. He emerged saying he was 'confident' the UK would 'remain a competitive place to do business'.
It is not clear whether the Japanese carmaker has received reassurances about a compensation package if tariffs do materialise.
In another positive development, official figures showed GDP rose by 0.5 per cent in the three months after the nation voted to cut ties with Brussels.
The preliminary numbers from the Office for National Statistics (ONS) exceeded the expectations of many economists, and are in stark contrast to the doom-laden predictions by George Osborne.
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