The Prime Minister it is set to unveil a multibillion pound investment plan to create thousands of new jobs.
Rishi Sunak will meet with some of the world’s biggest business leaders and investors on Monday to secure projects in life sciences, technology, renewable energy and housing.
The Chancellor Jeremy Hunt announced during the autumn statement last week to cut personal taxes where he said this is a “statement for growth.”
Sunak said, “Today’s investments, worth more than £29bn, will create thousands of new jobs and are a huge vote of confidence in the future of the UK economy.
“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.”
Business and Trade Secretary Kemi Badenoch said, “Today is yet another huge vote of confidence in our dynamic, pro-business and highly innovative economy and proves that our plan for growth is working.”
Jonathan Reynolds, Labour’s shadow business and trade secretary, responding to the Global Investment Summit, saying, “The past 13 years of Conservative government have been a total failure on growth and business investment marked by a complete lack of stability, consistency and ambition which has turned potential investors away from Britain.
“Only Labour has the plans to create the step change needed, working in partnership with business and investors, through our Industrial Strategy, Green Prosperity Plan and commitment to get Britain building again.”