Malaysian firm commits £4billion to creating new town in Bristol
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THE Chancellor yesterday boasted of “global confidence in our economy” after a Malaysian firm committed £4billion to creating a new town in Bristol. It comes as a bond market rout and drop in the value of sterling had raised concerns that investors were downbeat about Britain’s prospects.
![[Clifton Suspension Bridge in Bristol, England.]](https://www.thesun.co.uk/wp-content/uploads/2025/01/gv-clifton-suspension-bridge-bristol-916760726.jpg?strip=all&w=960)
Malay business YTL said its investment will create 30,000 jobs across the UK over the next five years. Around £2billion will go towards a major redevelopment project creating 6,500 homes, three schools, three hotels and an entertainment arena. It also has planning permission for a retirement village and new railway station.
![[Clifton Suspension Bridge in Bristol, England.]](https://www.thesun.co.uk/wp-content/uploads/2025/01/gv-clifton-suspension-bridge-bristol-916760720.jpg?strip=all&w=960)
YTL is already building homes in the town, which it called Brabazon. That is a nod to the Brabazon plane which was designed in Bristol and paved the way for transatlantic flights after the Second World War. However the project was cancelled without ever carrying a passenger and was deemed a commercial failure.
![[Emily Ratajkowski in a gold dress, modeling Kurt Geiger handbags.]](https://www.thesun.co.uk/wp-content/uploads/2025/01/kurt-geiger-announces-record-holiday-963894312.jpg?strip=all&w=768)
Business and Trade Secretary Jonathan Reynolds said: “This investment is incredible news for the UK and will create a generational transformation for North Bristol, delivering infrastructure, new schools and creating thousands of new homes and jobs in the region.”.
![[Pint of Murphy's stout beer on bar.]](https://www.thesun.co.uk/wp-content/uploads/2025/01/bxjx8x-pint-murphys-stout-beer-670646659.jpg?strip=all&w=639)
Sir Keir Starmer met Malaysian PM Dato’ Seri Anwar Ibrahim at No10 yesterday while Chancellor Rachel Reeves said it “builds on the £600million of investment I secured in China last week”. But in a blow to Bristol, Dyson confirmed it has axed plans to build a £100million research centre in the city.
![[A Currys employee holding a pile of electronics.]](https://www.thesun.co.uk/wp-content/uploads/2025/01/pr-handout-free-use-currys-872912801.jpg?strip=all&w=960)
