Paul Howell MP is thrilled to share the world’s leading investors have committed £29.5bn in new UK projects and capital, triple the sum raised at the last Global Investment Summit in 2021.
The new wave of investments come after the Chancellor Jeremy Hunt unveiled the biggest business tax cut in modern history at last week’s Autumn Statement with a permanent extension of capital allowances, £4.3 billion of business rates support and a £7 billion Growth Fund.
Thousands of jobs will be created across the UK in our most innovative sectors, including tech, life sciences, renewables, housing and infrastructure. More than 200 top CEOs and investors join leading lights in UK science, tech and creative industries at Hampton Court Palace.
Backing some of the fastest growing and most innovative sectors in the UK, the transformative investments have been secured for projects in tech, life sciences, infrastructure, housing and renewable energy – creating thousands of new jobs and driving growth across the country.
Nearly 9,000 jobs were created last year alone in the North West and North East from inward investment projects, with over 7,000 in Yorkshire and The Humber and 11,000 in the Midlands.
The Prime Minister Rishi Sunak said:
"These investments, worth more than £29 billion, will create thousands of new jobs and are a huge vote of confidence in the future of the UK economy. Global CEOs are right to back Britain - we are making this the best place in the world to invest and do business.
From giving businesses the biggest tax cut in recent history last week, to our culture of innovation and thriving universities producing some of the finest minds in the world, ours is truly a nation of opportunity.
Attracting global investment is at the heart of my plan for growing the economy. With new funding pouring into key industries like clean energy, life sciences and advanced technology, inward investment is creating high-quality new jobs and driving growth right across the country."