Europe’s largest industrial combine has vowed to press ahead with investment in Britain despite the vote to leave the EU, backing away deftly from earlier suggestions that Brexit would cause a painful freeze on new activities.

Joe Kaeser, the chief executive of Siemens, said the German engineering and technology giant remains fully committed to the UK whatever happens, but called on Theresa May to clarify Britain's post-Brexit trade vision as soon as possible and tell the world what kind of country it will become.

“We’re here for the long-term and we don’t let ourselves get jerked up and down. We’re staying because the UK is a good place to do business,” he said.