A new Minister for Investment has been appointed to head up a
bolstered Office for Investment, as part of a wider Whitehall
‘shake up' to strengthen the government's offer and partnership
with businesses and investors.
The appointment comes ahead of the government's inaugural
International Investment Summit which will bring together global
business leaders, Local Mayors, First Ministers and Cabinet
Ministers to discuss how we can deepen our partnership with
businesses to drive forward the government's growth agenda and
make the UK the best place for businesses to invest.
Securing investment is central to our mission to deliver economic
growth which will create jobs, improve living standards, and make
communities and families across the country better off.
OBE was the former
co-founder and Chief Executive Officer of British cybersecurity
company Darktrace plc until her departure in September 2024.
She co-founded Darktrace in 2013 and served as Chief
Financial Officer for three years, followed by a brief period as
Chief Operating Officer, before being named CEO in October 2016.
Under her leadership, Darktrace saw significant growth and global
expansion, including a listing on the London Stock Exchange in
2021.
With her extensive business, cybersecurity, and financial
experience, she brings a wealth of experience to the role and
will be a joint minister across the Department for Business and
Trade and the Treasury.
The Minister for Investment is expected to join the Prime
Minister at the Council of Nations and Regions meeting tomorrow.
Prime Minister said:
“I am delighted to welcome OBE as our new Investment
Minister – an accomplished entrepreneur who brings invaluable
experience to the role.
“We're upgrading the Office for Investment to ensure it is
fit for purpose and has the capability it needs to make the UK
the first choice for investment and the best place in the world
to do business, which is central to our mission to drive growth
and make people better off.
Secretary of State for Business and Trade said:
"Poppy has shown she knows firsthand what it takes to start
and grow a successful international business.
“Her private sector expertise will be vital in ensuring we
attract more valuable investment into Britain and these changes
show this Government's growth mission will prioritise what
businesses need to thrive in the UK and boost our economy."
OBE said:
"It is a huge privilege to be appointed as the Minister of
Investment and I am excited to get started.
“I have first hand experience of building and scaling a business
here in the UK and I am thrilled to have the opportunity to share
with the international investment community what I already know
to be true; the UK is a great place to do business."
The Minister will be responsible for the revamped Office for
Investment and will be tasked with promoting the UK to investors
and businesses around the world and attracting more investment
into the UK.
To support her efforts, we are expanding the Government's Office
for Investment to become a larger and better equipped
organisation which will bring together HMT, DBT and No10 into a
joint unit to streamline how the government approaches business
and investment.
The Office for Investment will also roll out a new, bespoke
service to ensure that investors receive the strongest possible
government support to navigate the planning and skills landscape.
This capability will be supported by the Deputy Prime Minister
and Education Secretary, who are also overseeing ambitious
reforms to make it easier to invest in the UK, including through
new planning legislation and the creation of Skills
England.
The Prime Minister has asked all ministers to consider how their
departments can work with and use the service of the new Office
for Investment to attract investments into their sectors.
As part of the overhaul, there will be a new Office for
Investment Board chaired by the Minister for Investment with
representation from HMT, DBT and No 10. The board will
provide strategic oversight of the Office for Investment and will
help to mobilise the levers across Government to attract
investment to the UK.
We will also appoint an external advisory board from industry to
provide external expertise right into the heart of government.
Further details on the advisory board membership will be set out
in due course.
