UK Prime Minister Announces £29.5 Billion Investment at Global Investment Summit

28 Nov, 2023

UK Prime Minister Announces £29.5 Billion Investment at Global Investment Summit

In a momentous move, UK Prime Minister Rishi Sunak has disclosed a groundbreaking £29.5 billion investment at the Global Investment Summit held at Hampton Court Palace. The investment is strategically allocated to bolster thriving sectors, including technology, life sciences, infrastructure, housing, and renewable energy, fostering economic growth and job creation on a significant scale.

This transformative initiative marks a crucial step toward leveling up, with a focus on generating over 12,000 jobs from the unveiled investments alone. The announcement builds on recent governmental efforts, such as the £4.5 billion Advanced Manufacturing Plan and a £2 billion investment by Nissan securing jobs in Sunderland. Additionally, a new Investment Zone in the North East is projected to contribute to the creation of 4,000 jobs.

Last year witnessed the creation of nearly 9,000 jobs in the North West and North East through inward investment projects. The impact extended to over 7,000 jobs in Yorkshire and The Humber and 11,000 in the Midlands.

The Global Investment Summit, inaugurated by Prime Minister Rishi Sunak and Business & Trade Secretary Kemi Badenoch, boasts a distinguished lineup of CEOs, including Stephen Schwarzman (Blackstone), Amanda Blanc (Aviva), David Solomon (Goldman Sachs), and Jamie Dimon (JP Morgan Chase). Principal Partners Barclays, HSBC, and Lloyds Bank will also contribute to the summit, themed "British Ideas – Past, Present and Future."

The event, celebrating innovation from steam trains to quantum computing, will culminate in a reception at Buckingham Palace hosted by His Majesty the King. This unprecedented investment underscores the UK's commitment to economic advancement, innovation, and job creation across diverse sectors.