- UK will host major G20 summit in 2027, UK confirms during
South African summit
- Summit will reinforce the G20's focus on a global
economy that delivers stable growth, fair trade and investment –
key to bringing prosperity to every corner of the UK
- Comes as G20 members bring more than 3,800 investment
projects into the UK, creating almost 200,000 new jobs over the
past three years
The UK will host the G20 in 2027, using the summit to drive
global growth, seize the global agenda and reinforce global
stability– essential for working people in the UK, the Prime
Minister has confirmed today.
Bringing together 19 of the world's largest economies and two
major multilateral bodies – the European Union and the African
union – the grouping makes up 85% of global GDP, 75% of
international trade, and two-thirds of the world's population.
G20 members are also some of the UK's closest economic partners -
17 of the UK's top 20 global export markets, and 18 of our top 20
sources of foreign direct investment into the UK.
Prime Minister said:
“Our work abroad is delivering for people at home in good jobs,
greater opportunities, and national renewal. Hosting the G20 will
allow us to shape the global agenda once again, driving forward
economic stability in the UK and beyond.
“As we enter the next cycle of G20 Presidencies, we must double
down on our core mission: driving growth – not just in numbers,
but in opportunities for working people in each of our countries.
“We know that when we work with our partners, we can restore
stability and drive prosperity on an unmatched scale, bringing
benefit to all.”
In the past three years, G20 members brought more than 3,800
investment projects into the UK, creating almost 200,000 new
jobs.
This has included Shinhan, the Republic of Korea's second largest
bank, investing £2bn over the next 5 years into energy, digital
assets, infrastructure projects as well as businesses based in
the UK's thriving financial services sector and Japan's Sumitomo
Corporation facilitating up to £7.5 billion of investment into
key UK infrastructure and clean energy projects by 2035.
It was also included Mexico's Grupo Bimbo – the largest baking
company in the world – expanding its footprint in Rotherham.
The G20 Leaders' summit was first formed in the eye of the global
financial crisis, bringing together heads of government, central
bankers and finance ministers to steady the global economy.
The meetings that followed the creation of the leaders' summit–
including the London Summit of 2009 – were not merely symbolic,
but decisive. Under Gordon Brown's chairmanship at the time,
countries pledged over $1 trillion to stabilise the world economy
and prevented a global depression.
Decisions taken around that table in London saved jobs, homes and
livelihoods, with financial markets stabilising within weeks of
the Summit – ultimately bringing down unemployment, interest
rates, and protecting personal savings.
