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Johnson to announce £9.7bn in new overseas investment in the UK, says No 10

·2-min read
Prime Minister Boris Johnson (Jacob King/PA) (PA Wire)
Prime Minister Boris Johnson (Jacob King/PA) (PA Wire)

Boris Johnson will announce £9.7 billion of new overseas investment in the UK, creating 30,000 additional jobs, Downing Street has said.

The Prime Minister will roll out the red carpet for business leaders including Microsoft co-founder Bill Gates when he hosts the Global Investment Summit at London’s Science Museum on Tuesday.

Ahead of the gathering, No 10 said Mr Johnson would announce a package of 18 investment deals, supporting growth in sectors such as wind and hydrogen energy, sustainable homes and carbon capture and storage.

At the same time the Department for International Trade is launching a new online investment atlas, highlighting 53 potential strategic investment opportunities across the UK.

The world’s top investors have seen the massive potential in the UK for growth and innovation in the industries of the future

Prime Minister Boris Johnson

Mr Johnson said the new investment would help power the UK’s economic recovery, driving the Government’s “levelling up” agenda.

“The world’s top investors have seen the massive potential in the UK for growth and innovation in the industries of the future,” he said.

“This is just the start. We will see new partnerships for green growth forged at today’s Global Investment Summit, as we look ahead to Cop26 and beyond.”

Following an opening address, Mr Johnson will sit down with Mr Gates, who is advocating technological solutions to tackle the climate crisis.

The Global Investment Summit is being held at the Science Museum (Aaron Chown/PA) (PA Archive)
The Global Investment Summit is being held at the Science Museum (Aaron Chown/PA) (PA Archive)

Downing Street said the Queen and other senior royals will host a reception at Windsor for the delegates, which Mr Johnson and Chancellor Rishi Sunak are also expected to attend.

Ahead of the summit, the Prime Minister and Foreign Secretary Liz Truss were hosting about 20 business leaders at a dinner in No 10 on Monday.

The Prime Minister’s official spokesman said it was being catered by Clare Smyth, the first woman chef in the UK to get three Michelin stars, with a menu “showcasing the best of British produce”.

Canapes of jellied eels, chicken liver parfait, and pumpkin and white truffle gougere were being served before a starter of potato and roe.

Venison from the Rhug Estate near Corwen in Denbighshire, prepared with a 16-year-old Lagavulin whisky, is followed by a dessert of lemon and pear meringue.

Mr Sunak will host a separate dinner in the City for about 300 business and industry figures.

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What the papers say – October 19

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