and will tomorrow [Monday 17
June] announce that a future Labour government will hold a Global
Investment Summit in the first 100 days to “hit the ground
running” and bring investment back to Britain.
The Shadow Chancellor and Shadow Business Secretary will pledge
that the next Labour government will show Britain is “open for
business,” with a new industrial strategy backing successful
industries across the UK. The summit to be held later this year
to celebrate Britain's economic successes and seek to attract
investment in pioneering industries, including AI, life sciences,
green energy and advanced manufacturing.
Since the last general election, business investment in the UK
has been lower than any other G7 country.
The announcement comes as the Shadow Chancellor meets with
members of the British Infrastructure Council on Monday morning.
The Council – which is made up of UK-based and international
investment firms – was established last year to focus on how to
tackle infrastructure delivery challenges by working in
partnership with the private sector to unlock capital. All the
companies are acting in an independent advisory capacity.
On Monday, members of the Council will meet to discuss what a
future Labour government could do in the first few months of
power to kick start growth and attract investment. Attendees of
Monday's meeting will be:
- Andrea Rossi, Chief Executive Office at M&G
- Charlie Nunn, Chief Executive Office at Lloyds Banking Group
- Vivian Nicoli, Head of European Infrastructure and Managing
Director, CDPQ
- Mike Regnier, Chief Executive Office at Santander
- Deepa Bharadwaj, Head of Infrastructure Investment for Europe
at IFM Investors
- Joe McDonnell, Chief Investment Officer at Border to Coast
- Rob Groves, Chief Investment Officer at Pension Insurance
Corporation
- Stephen Cohen, Chief Product Officer and Head of Global
Product Solutions at BlackRock
, Labour's Shadow Chancellor
to the Exchequer, said:
“Britain is in a global race to attract the investment we need to
get our economy growing again, after years of political
instability that has deterred global investors and left Britain
worse off.
"If elected in a few weeks' time, I am determined that a Labour
government will hit the ground running to show that Britain is
open for business and to begin to attract the investment we need
to make working people better off. I am looking forward to
discussing these issues with members of our British
Infrastructure Council.”
, Labour's Shadow Business
and Trade Secretary, said:
“The lifeblood of a growing economy is business investment.
That's why we have pledged to lead the most pro-growth,
pro-business government in history so we can attract the
investment that will create jobs and business right across the
United Kingdom.”
Ends
Notes:
The British Infrastructure Council was established in November to
tackle infrastructure delivery challenges by working in
partnership with the private sector to unlock capital. Membership
includes:
- Deepa Bharadwaj, Head of Infrastructure Investment for
Europe, IFM Investors
- Tracy Blackwell, CEO, Pension Insurance Corporation
- Andy Briggs MBE, Group CEO, Phoenix Group
- James Bryce, Head of Global Infrastructure, CPP Investments
- Stephen Cohen, Head of EMEA, BlackRock
- Rachel Elwell, CEO, Border to Coast
- Vivian Nicoli, Managing Director, Head of European
Infrastructure, CDPQ
- Charlie Nunn, Executive Director and Group Chief Executive,
Lloyds Banking Group
- Noel Quinn, Group Chief Executive, HSBC
- Mike Regnier, CEO, Santander UK
- Anne Richards, CEO, Fidelity International
- Andrea Rossi, Group Chief Executive, M&G
