McDonald's is shaking off Brexit fears and creating 5,000 new UK jobs

Mcdonalds

Getty Images/Joe Raedle

The world's most recognisable fast-food chain, McDonald's, is shaking off fears about the British economy in the aftermath of the vote to leave the European Union, and will create 5,000 new jobs in the UK by the end of 2017.

The new jobs will take McDonald's total workforce in the UK to more 110,000, with the new jobs being added on top 0f 8,000 new hires announced in 2014.

In a statement announcing the news, McDonald's UK CEO Paul Pomroy said:

"This focus on continued investment and innovation has seen another strong quarter performance for the UK business. We have now delivered 41 consecutive quarters of sales growth in the UK, by delivering what matter most to our customers - freshly prepared, great tasting food at affordable prices.

"These remain challenging economic conditions but I’m pleased that, together with our franchisees, we remain committed to the UK, and our continued focus on serving quality, affordable food and giving our customers a great experience is enabling us to keep investing in our business and creating jobs."

Greg Clark, Britain's recently appointed Business Secretary understandably welcomed the announcement, saying:

"McDonald’s announcement that they will be creating over 5,000 new jobs is great news for the UK economy. The government is committed to ensuring businesses have the support they need to thrive and today’s announcement underlines that businesses are confident that the UK remains open for business."

News of McDonald's job creation scheme comes on the same day that pharmaceuticals giant GlaxoSmithKline announced that it plans to invest £275 million in Britain by funding three drug manufacturing sites across the UK.

One of the key concerns surrounding Britain's vote to leave the European Union is that it is thought that major international companies may pull jobs and investment out of the UK, with the banking and finance sector expected to take the worst hit. However, the investment and jobs announcements made by two of the world's largest companies on Wednesday are likely to calm these fears a little.

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See Also:

• FOXTONS: 'Do not expect London's property markets to show signs of recovery before the end of the year'

• Here's what you need to know about Michel Barnier, the EU's Brexit negotiator

• Another post-Brexit economic survey shows a collapse in activity — this time in retail

SEE ALSO: One of Britain’s biggest house builders says the property market is 'encouraging' after Brexit