Australian investors commit £28.5bn in major economic boost for UK
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Top Australian investors announce £28.5 billion for clean energy,
technology and infrastructure projects across the UK Today’s
investment commitments will create thousands of jobs and support
major developments from Orkney to Southampton PM hails
transformative investment which will help level up, boost quality
housing stock and drive the green energy transition Leading
Australian businesses have announced major new investments
totalling £28.5 billion in projects...Request free trial
Leading Australian businesses have announced major new investments totalling £28.5 billion in projects across the United Kingdom, as the Prime Minister hosts a UK-Australia investment roundtable at Downing Street this evening [Wednesday 30th March]. Today’s announcements follow from the Global Investment Summit hosted by the PM in October and the creation of the new Office for Investment. They underline the growing appeal of the UK’s dynamic economy and workforce for foreign investment. The strategic investments will create thousands of jobs initially with many more expected, supporting the Government’s agenda to level up across the UK, improve the quality of our infrastructure and housing and drive a green industrial revolution. Prime Minister Boris Johnson said: “I'm proud that some of Australia's leading businesses have chosen to invest in the UK, recognising opportunities across the globe in our dynamic and forward-looking economy. “The fantastic schemes announced today will turbocharge the Government’s efforts to create jobs and growth in every part of the country, and put the UK at the cutting edge of the green industrial revolution. This is Global Britain in action – building new partnerships with friends and allies around the globe to create prosperity at home.” New investments announced today include:
The Prime Minister hosted ten Australian CEOs and senior executives for a hybrid roundtable at Downing Street this evening alongside the International Trade Secretary, to welcome today’s investments and discuss opportunities for further collaboration and investment. The UK and Australia have close and historic economic, political and cultural ties, which are set to be bolstered by our new Free Trade Agreement. Macquarie Group Managing Director and Chief Executive Officer, Shemara Wikramanayake, said: “The UK was our first destination when we expanded internationally in 1989, and has remained a strong focus for our investment activity ever since. “The UK has been a world leader in the positive utilisation of private capital to meet essential infrastructure needs of communities, including as a global leader in investment in the energy transition. We look forward to building on our track record of investment of capital and expertise to deliver the next generation of UK infrastructure.” The Department for International trade is boosting inward foreign investment – securing almost £10 billion in new investment at October’s Global Investment Summit and lining up a pipeline of future funding partnerships – and supporting UK businesses to grow their exports, including to new markets in the Asia-Pacific. Investment Minister Lord Grimstone, who also attended the roundtable, said: “The UK is one of the best investment destinations in the world. Global businesses invest here for many reasons, not least our stability, commercial openness and financial services credentials, as seen when we hosted the Global Investment Summit last year, which brought over “The investment announced today not only builds on the UK-Australia Free-Trade Agreement but will help level up every part of the UK. Investment is a driving force for the creation of jobs and higher living standards, and I’m delighted we’ll see this right across the country.” Lendlease Global Chief Executive Officer, Tony Lombardo, said: “We stand shovel ready with the British Government and our partners to deliver vital new homes, parks, offices and jobs for the UK and its people. In line with our world-leading decarbonisation targets, we’ll be striving to make these places and neighbourhoods some of the most sustainable in the UK.” IFM CEO David Neal said: “IFM is owned by pension funds and invests, over the long term, on behalf of pension funds, their members, and other long-term investors. We have been investing in core UK infrastructure for decades and now are planning to almost double our investment over the next five years. “We believe the deployment of pension capital in partnership with the UK government will be critical to supporting the UK’s energy transition and net zero ambitions over the next 25 years.” ENDS Notes to Editors:
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Macquarie will also work with investment partners to support the development of hydrogen-ready gas transmission and distribution networks to help decarbonise the UK’s energy system through Cadent, the UK’s largest gas distribution network. And is investing in Storegga, the developer of the Acorn Project in northeast Scotland, to utilise the UK’s existing oil and gas infrastructure to receive and store CO2 captured from UK industrial activities.
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