Record-breaking International Investment Summit secures £63 billion and nearly 38,000 jobs for the UK
https://www.gov.uk/government/news/record-breaking-international-investment-summit-secures-63-billion-and-nearly-38000-jobs-for-the-uk
Posted by lagerjohn
16 Comments
Signed contracts? Or promises of investment? There’s a massive difference.
Reading into it, this is astonishing, giving the UK serious clout, commitments and optimism as well as Starmer and Co the boost they needed too!
Double what the Tories ever pulled off, impressive!
The journalism bit I would like to know; (if anyone at the FT/telegraph/economist wants to do an analysis for us!)
* what % of the investment was already earmarked/planned and what is new
* what £ of investment would represent a ‘good’ number – [link](https://www.ippr.org/articles/rock-bottom) showing that we are “the lowest rate of investment of any G7 economy”
Labour has not impressed, but now we can put to rest the assertions of them being incompetent. Investment returning is good, now the focus must be on strengthening the workers who will drive the investment.
I am sure the right-wing press will be eagerly giving up their front pages to share this news.
So we are loosing green belt land to AI, data centres. Brilliant just the thing they will kill off even more jobs in the not so distant future. EE have already mentioned last year that up to 40% of call centre staff will be replaced by AI.
Before anyone says it’s not true, it’s an easily googled story and I don’t post links as they get scrubbed off the internet if I do so. The NHS is also going to replace staff to AI as well, as stated by the government. It will be admin staff but it is very much happening.
“**Amazon Web Services** announced an **£8 billion** investment last month”
“**Orsted and Greenvolt** confirming that the Government’s recent expanded offshore wind auction means their projects will unlock **£8 billion** (Orsted) and **£2.5 billion** (Greenvolt)”
Sorry but this is just a political spin event to take credit for what is happening anyway- idea that £63bn was generated by a summit is propaganda, it was propaganda when the tories did it and its propaganda now. Notice how many of these businesses are reliant on government support- airport expansion, wind farms, some of the announcements are literally from government owned bodies like National Rail & LCR
**”DP World** are investing up to **£1 billion** in their London Gateway container port operation” Is an investment that seems to have been pulled and then re-announced just for this summit.
It’s going to annoy me endlessly when this “summit” gets more and more of a feature of political calendar when all it is is companies with ties to the government either holding back announcements or literally just announcing them again in a big room together too make the government look good- its Saddam Hussein shit.
Rishi has done a great job making the UK a great place for business to invest
We just need to get 38k people to be prepared to work now. Maybe we’ll see the UC bill come down and tax rates fall!
Listened to Kier Starmer’s speech yesterday his commitment to cut away layers of red tape is likely to have helped greatly. The example he gave of a wind farm off shore in Suffolk having to complete 40,000 documents then wait for two year after that for a judicial review to be completed. AstonIshing! Read on an another sub we have spent more money on the inquiry into the proposed new Thames crossing than it cost to build the longest bridge in the world. Whatever else they get right or wrong they wil deserve our thanks if they put a stop to this red tape nightmare.
Loads were already committed in the past ie 20£ from Macquarie
Most of these deals were agreed by the Tory government.
Amazon, BlackRock and Macquarie investments, representing almost half of the investments and presumably the jobs. Amazon said it will somehow create 14,000 jobs were agreed by the Tories.
Iberdrola and the green investments were also agreed by the previous administration.
Smoke and mirrors.
Glad to see the 2nd party of British Capital doing their job – advocating for privatisation and big international Capital. Great job lads I’m sure this will go well.
One of the ‘investments’ was from P&O owner who will bring 400 jobs, just after they illegally sacked 800 people. So a net loss despite being toted as a ‘win’.
The Government works for these people and its obvious. These folks say jump, and Starmer+Reeves say, “how high”?
At the end of the day, it’s what they are investing in, and certainly more pertinently, what are they expecting as a ‘return’.
For, there really is nothing clever nor purposeful about giving away state assets, that we could just as easily invested in ourselves for something like an equal return.
The Eli Lilly stuff is very interesting, especially considering Wes Streeting’s comments about injecting the unemployed to get them back to work.
They’ve been given a £279 million contract to trial their weight loss drug to reduce ‘worklessness’. This will of course be trialled in an SEZ in Manchester, something the press is allergic to even mentioning because they know how fucking terrible of an idea these zones are.
Secured? Business leaders have already said many of the investments will depend on what happens in the Budget