Today, at a major business conference in London, the Prime Minister will commit to removing regulations that “unnecessarily hold up investments.”
The International Investment Summit will feature deal announcements worth more than £50 billion – roughly double the £28 billion revealed at the previous comparable gathering held under the former Conservative administration. Sky News city editor Mark Kleinman learned about the case on Sunday.
The ruling came after a row over the Transport Secretary's criticism of P&O Ferries put a billion pound investment at risk by its owner from Dubai, DP World.
However the investment will be continued and DP world chairman Sultan Ahmed bin Sulayem will attend the conference following frantic efforts by British ministers and diplomats to repair relations with the company.
The government wants to show that it is making progress in achieving its mission to deliver economic growth we celebrate 100 days remains in office and before the announcement of the first budget as chancellor on October 30.
Kanclerz Rachel Reeves warned of “difficult decisions” during the spending review Work says it must plug a £22 billion 'black hole' in public finances left by the government Conservatives.
The government says international investment will help achieve its goals of creating jobs, improving living standards and improving the situation of communities and families across the country.
It will ask the Competition and Markets Authority to prioritize growth, investment and innovation and review what other major regulators are doing, with a focus on “cutting red tape” and putting the UK “at the front of the queue” for opportunities.
In the main speech at the summit entitled Premier Sir Keir Starmer he is expected to present the UK as a stable option to investors, saying he will “do everything I can to boost economic growth, including getting rid of regulations that unnecessarily hold up investment.”
He will say: “We have a golden opportunity to use our mandate to put an end to the cuts and changes, the policy changes and plastering that make it difficult for investors to judge the value of any proposal.
“We have the determination, a focus on clear, long-term goals, and a mission-driven mindset that allows us to think in terms of the years, not the days or network hours, it will take to unlock that potential. Don't doubt it.
“We are focusing on investments because the mission of growth requires it, especially in this country. Private sector investment is how we rebuild our country and pay our way in the world.”
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Five of the world's largest banks, private equity firms, insurers and technology giants signaled support in a joint letter to The Times.
“We are optimistic about the future of the economy and believe that now is the time to invest in the UK,” they said, citing greater stability and growth in the technology and energy sectors.
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Sir Keir Starmer and Chancellor Rachel Reeves. Photo: AP
Banks JP Morgan and Goldman Sachs, insurers Aviva and L&G and private equity firms including Blackstone and KKR are among the 14 signatories.
Labor has warned of “difficult choices” in the budget and raised fears of further cuts after winter fuel subsidies for pensioners were cut.
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There has been speculation about how much taxes could be raised in the budget after Labor pledged not to increase national insurance, income tax or VAT contributions.
Ms Reeves must also decide whether to change fiscal rules to allow more borrowing to finance public spending.
Consumer health company Haleon announced it will invest £130 million in a new global oral health innovation center in Weybridge, Surrey, during the summit.
