A FORMER UKIP parliamentary candidate in Worcester is leading a rallying call for optimism - saying the UK economy will emerge stronger from Brexit.

James Goad, who tried to become the city's MP last year, insists there is no reason to be negative or fearful about Britain's prospects in the wake of the interest rate cut and the raft of recent investment news.

After a turbulent few weeks for the pound the Bank of England has opted to cut rates to a new low of just 0.25 per cent to reassure markets and boost consumer spending.

Small manufacturers have reported a sharp fall in optimism, but alongside that a series of major employers like McDonald's and GlaxoSmithKline have announced major expansion plans, saying the UK remains a great place to invest and create jobs.

Mr Goad, who also urged Prime Minister Theresa May to get on with triggering Article 50 yesterday, said: "With something like 27 countries knocking on the door our long-term prospects look excellent.

"Major companies are still investing in this country, there might be some short-term confidence issues but that's not long-term.

"Of course there are still too many unknowns and it would be foolish to make firm predictions about the economy right now, but ultimately with all the trade deals on the table I think there is every reason to be optimistic."

McDonald's has announced it is creating 5,000 jobs under a £600 million expansion - and that the investment is being accelerated because of the vote to leave the EU.

GlaxoSmithKline says it will invest £275 million into expanding, calling the UK "a very attractive place" to do business despite the EU vote, pointing to the low rates of Corporation Tax, skilled workforce and reputation for science.

The spending will boost production of the company’s medicines across three UK sites in Barnard Castle, Montrose and Ware.

This morning car manufacturer Nissan, which had threatened to pull out of the UK if it voted to leave the EU, said it would not make any decisions until the outcome of the negotiations were clear.