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Kemi Badenocha has attacked the government's “painful” handling of P&O Ferries after officials managed to stop a £1 billion investment in the UK from collapsing following comments from a minister.
Last week, Transport Secretary Louise Haigh told reporters she supported a boycott of P&O Ferries, which she described as a “rogue operator” for sacking 800 workers in 2022.
This led to DP World, the Dubai-based cargo logistics giant owned by P&O, saying it would cancel a planned announcement of a £1 billion investment.
The Prime Minister was forced to say that the Government did not share Ms Haigh's views.
Officials spent hours “making calls” to repair the damage and reconfirm the announcement, which was to be the main topic of tomorrow's International Investment Summit. The source said there was “a lot of engagement overnight” – with assurances the government did not support a boycott of P&O.
Kemi Badenoch has criticized the government's “painful” handling of P&O Ferries after officials failed to halt the collapse of a £1 billion investment in the UK
Transport Secretary Louise Haigh told reporters she supported a boycott of P&O Ferries, which she described as a “rogue operator”
Dubai-based cargo logistics giant DP World, which owns P&O, subsequently said it would withdraw its planned £1 billion investment announcement, but announced it would go ahead nonetheless
Yesterday afternoon, DP World announced its continued investment after gaining “the clarity we need.” The company also announced that its chairman, Sultan Ahmed bin Sulayem, will be present at the summit.
It marks a wild start to the event as ministers launch a new industrial strategy aimed at “delivering lasting stability for investors”.
A No 10 source insisted Sir Keir “retains confidence” in his Transport Secretary after some Labor MPs privately said her position was “untenable”. “I don't know how she will survive this,” said one backbencher.
Former business secretary Badenoch told MoS: “Labour's student policy in opposition has been bad. In government, it costs us real money and real jobs.
“Watching a billion pounds and thousands of jobs almost disappear because of Louise Haigh's stupid comments is heartbreaking because we still have five years to go and at this rate there won't be much of the economy left.”
Ms Badenoch, who has just been named in the final two candidates for the Tory leadership, added: “I chaired last year's summit, which brought in £30 billion of new investment. Close cooperation with the business community required a year of hard work.
According to Shadow Business Secretary Kevin Hollinrake, Ms Haigh's comments “speak to Labour's overall approach to the private sector”.
A government spokesman said: “DP World's investment in the UK is a vote of confidence in the stability and seriousness of the government. We welcome the jobs and opportunities this will create.
“By working in partnership with businesses and investors from around the world, the Government is unlocking the UK's potential and ambition. As our International Investment Summit will show, the UK is open for business again.
