Sunak reveals £29.5bn investment in UK sectors at Global Investment Summit

investmentweek.co.uk:

Prime Minister Rishi Sunak (pictured) said it was 'huge vote of confidence in the future of the UK economy' and that the government was making Britain the 'best place in the world to invest and do business'.

Projects in tech, life sciences, infrastructure, housing and renewable energy have secured the investments, with funding planned to create more than 12,000 jobs, furthering the government's «levelling up» agenda.

Sunak said it was a «huge vote of confidence in the future of the UK economy», adding the government is making Britain the «best place in the world to invest and do business».

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He also pointed to the business tax cuts announced in last week's Autumn Statement as part of his plan to attract global investment and grow the economy.

Business and trade secretary Kemi Badenoch said the UK has the third highest levels of inward investment in the world at $2.7trn, sitting at number one in Europe for new investment projects.

She claimed 107,000 jobs were created in the past year alone through inward investment.

CEOs attending the summit included Stephen Schwarzman from Blackstone, Amanda Blanc from Aviva, David Soloman from Goldman Sachs and JP Morgan Chase's Jamie Dimon.

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Barclays, HSBC and Lloyds Bank will also attended as principal partners of the summit, to celebrate «British ideas — past, present and future».

Several companies committed billions in investments to the UK's renewables sector on the back of a rise in inward investment for renewables in the UK, rising from £19bn in 2021 to £55bn in 2022, with 11,500 jobs created in the industry last year alone.

Iberdrola, a