In a major speech at the government's first International Investment Summit today, Prime Minister Keir Starmer will vow to eradicate unnecessary regulatory barriers to catalyse investment and boost economic expansion.
During his address in front of the world's premier business leaders gathered at the event at London's Guildhall, Starmer is set to commit to regulatory reform aimed at facilitating development across various sectors.
"Where [regulation] is stopping us building the homes, the data centres, warehouses, grid connectors, roads, trainlines, you name it then, mark my words we will get rid of it," he is poised to declare.
In addition to removing red tape, the Prime Minister will highlight the importance of consistent governance in attracting investment by stating, "We will rip out the bureaucracy that blocks investment and we will make sure that every regulator in this country takes growth as seriously as this room does."
Underlining the significance of private capital in the nation's revival, Starmer is anticipated to further remark: "Private sector investment is the way we rebuild our country and pay our way in the world. This is a great moment to back Britain", as reported by .
The summit is also expected to be a platform for announcing multi-billion pound investments in burgeoning sectors such as artificial intelligence, life sciences, and infrastructure, with commitments from both industry leaders and government officials.
Australian infrastructure titan Macquarie is reportedly poised to declare £20bn of fresh investment in the º£½ÇÊÓƵ at the summit, while Sky News has suggested that the total sum of º£½ÇÊÓƵ investment pledged by businesses at the event could reach as high as £50bn.
Among the speakers and panellists at the summit are Blackrock CEO Larry Fink, former Google chairman and CEO Eric Schmidt, ex-England manager Gareth Southgate and Aviva chief Amanda Blanc.
The conference coincides with the day the government is anticipated to detail its industrial strategy to "hardwire stability for investors" and stimulate growth, a plan which businesses will be invited to help shape. Microsoft º£½ÇÊÓƵ's chief executive Clare Barclay has been selected to head a new Industrial Strategy Advisory Council.
Newly appointed investment minister and former Darktrace CEO Poppy Gustafsson issued an encouraging message to firms, stating: "It's never been a better time to invest in Britain. This summit is a hugely significant moment to showcase the º£½ÇÊÓƵ's economic strengths on the world stage."
Meanwhile, London mayor Sadiq Khan, lauded the event as "Britain reclaiming its reputation as a magnet for global investment".
He said: "My message to business leaders and investors across the world is that if you are a stranger and thinking about making a home in our capital, I promise that you won't feel like a stranger for long."
